Just like gold, in fact, during a recession and bank failures Bitcoin may just perform very well, because it has limited quantity, it is decentralized, and it is relatively decorrelating from traditional financial markets.
Gold is a strong store of value, well stronger than bitcoin, it is also a safe haven asset and it has been for a very long time now. Bitcoin on the other hand is not an old asset, but it has definitely survived some harsh economic situations, like the Covid pandemic for example, so bitcoin is also a store of value and it is expected to retain its value during a recession.