Bitcoin was not designed to be a hedge against inflation, but the concept has gradually evolved due to its limited supply. When we compare available currencies, we only have fiat and Bitcoin. And, because fiat is unlimited and rapidly losing purchasing power, it is natural for people to seek refuge in Bitcoin and feel confident that their Bitcoin money will not lose purchasing power over time because no one can add more supply of it.
Bitcoin's purpose has been changed over the years because of its limited supply. It was designed to be "Peer-to-Peer Electronic Cash", but it's rather used as an electronic store of value by the masses. You can see how prices fluctuate constantly due to the speculative nature of the market. With this pace, Bitcoin will never be used as an alternative currency to existing Fiat. This would only change if Fiat is no longer used as the standard unit of account. If people began using Bitcoin regardless of its market price, everything would be different.
At least, the Blockchain is alive and healthy as ever. As long as decentralization is prioritized, Bitcoin will last a lifetime. Just my thoughts
