It's based on considerably more. Literally everything about the design of Bitcoin only makes sense in the context of the anarchocapitalism of the Cypherpunks list and its successors. They largely accepted goldbug crank economics as completely normal.
This is why Bitcoin economics is so weird and doesn't work in the real world. The process is:
1. If you buy into this weird ideology, you'll get rich for free!
2. Don't worry if you don't understand it or it doesn't make sense - just keep doing the things and you'll get rich for free!
This is why the worst Bitcoin advocates come across as fanatical cultists, and why they got the social reputation they have.
Also stating that traditional currencies require a lot of trust in banks, especially central banks is a fact.