It's really hard for BTC to be a good hedge because of its volatility. Imagine you wanted to avoid losing your wealth to 2% of inflation per year so you decided to put your life saving in Bitcoin a few weeks. By today you'd lose 20% of your wealth already, and the future would still be uncertain - would you recover soon or dive even deeper? Imagine if now you have an emergency and need a portion of those savings - now you have to sell at a loss, or maybe don't even have enough money due to crash.

As long as Bitcoin will remain volatile, it will only be suitable to be a small part of investor's portfolio, meanwhile you can buy serious amounts of gold and be reasonably confident that it won't crash in a single day.