I don't think he is saying only (and I hope I didn't imply that).

My read of the argument is that money has to get "jump-started" with some kind of use-value. Once others want it for money purposes, it's just that: money. But people don't want money just to have money (so the argument goes), and some number of people do want money for the use-value of the money -- and that's what keeps the whole system going round.

I disagree with him that there is no end in bitcoin itself.

EDIT: "jump-started" may not be what he's getting at, either. It may be more like the little pushes that contribute to resonance in a swing.