Something I know a lot of crypto people are against but I would still say is a legit way to defend against inflation is to take advantage of government bonds (or mutual funds in Asia).
The interest can be quite high almost 8-10%, guaranteed by government. If you can get your interest to be higher or equal to inflation, then you protect your wealth.
Commodities, stocks, art, these can go up in value but can also go down or in case of art even you may not find a buyer.
I agreed with what you said if we are talking about a centralized investment option but still, the best decision about the government bonds investment is to take advantage of it because the government can not be totally trusted.
Bitcoin? I don't know; take a look at how it's performed in the past few days. It all depends on when you buy it and where it is when you finally decide to cash out--and that's true for any of the things listed above. Personally, I don't think any cryptocurrency is a good choice for a hedge against inflation, and that's just based on volatility alone.
Absolutely and I have said it in some of my previous posts. Invest in Bitcoin is now risky and dangerous if the investor is not a long term holder that brought before the start of the bullish market because if the market replicates the previous halving momentum market blood bath can happen anytime.