And if there is no reason to hold it, does it have any inherent value?
I think it will because human time scales are not like those of computer time scales. Right now, people and organizations tend to hold only a small percentage of their assets as currency (what is today the most liquid asset). You need to do this because to pay the bills.. the one-off expenses, the day to day stuff, you need some instant liquidity. With IOTA, or whatever usurps it, and it no longer takes T+1 or T+3 to get liquidity, I would imagine the percentage of highly liquid assets an individual or organization would need at any given moment would shrink dramatically.. but it would not go to zero because people do not move (by move I mean transact, make decisions, evaluate, analyze, etc., machines also do not move physically at the speed of light obviously) at the speed of light, only machines do, and a large part of the economy will still be in the human realm not the machine realm.