If somebody has a single bitcoin they can't sell, there is nothing else they can do with it. Therefore, the bitcoin itself has zero intrinsic value.
The value of the idea of the blockchain is not relevant to the value of an individual bitcoin, just as the value of the patents behind autonomous mining trucks (these really exist) has no bearing on the price of an ounce of gold.
The value of the idea of the blockchain is not relevant to the value of an individual bitcoin, just as the value of the patents behind autonomous mining trucks (these really exist) has no bearing on the price of an ounce of gold.