[saalweachter]

The value of individual bitcoins depends as heavily on how long bitcoins are held as it does on the transaction volume.

If there are 20 million BTC in active circulation and the bitcoin network processes 20 billion USD per day in transactions, than the "intrinsic value" could be $7000/BTC if the average bitcoin is held for a week between transactions (eg, you are paid biweekly in BTC and spend them constantly), or it could be $40/BTC if the average bitcoin is held for an hour between transactions (eg, people hold fiat and the BTC are in constant use by the gateways).

A high intrinsic value really requires adoption both as a payment network and as a store of value.