Bitcoin fell together with both high valued stocks as well as bonds in 2022. It didn’t turn out to be a great inflation hedge, as its price fell as inflation rose. However, it seems to have turned out as a decent financial system hedge as the price rose after Silicon Valley Bank and Signature Bank were taken over by the U.S. government.
So digital gold might continue to be a good way to describe Bitcoin. Not the most practical way to pay for things, but it can play a part in a financial portfolio. Especially when times are rocky for the financial system.
