Well, BTC can be a hedge or a risk depending on one's strategy. Like other assets, BTC has its own pros and cons. We can call it safe on the grounds as;
          - It's not controlled by any government, so immune to local monetary policy failures.
          - Can be stored and moved across borders easily.

Meanwhile it can be a risk because;
          - Price swings can be extreme, even during crises.
          - Can be banned or ristricted in uncertain times.
          - BTC has limited practical use in emergencies compared to traditional assets like gold and cash.

In some situations, BTC offers protection from traditional financial systems but still it's not a guaranteed safe haven like gold.
Diversification is key.