I don't think Bitcoin is a hedge against economic uncertainty. Bitcoin has become less valuable compared to gold in the past year. The Bitcoin/Gold ratio is down 47% in the past 6 months, meaning you need much less gold to buy 1 BTC now than you did back in August. If you zoom out, that's far from the end of the world, but gold vs Bitcoin has always been a false comparison. The point of crypto isn't just to hoard it all in a wallet and have it sit there doing nothing, despite what some bitcoin maxis might tell you. There are so many more things that you can do with Bitcoin and other digital assets that you can't do with gold. That's crypto's advantage. Bitcoin is still very new compared to gold, and new things aren't always trusted right away like the old things. All money is a concept. Its value is tied to the level of broad belief and trust in the asset, a status gold has held for thousands of years. It's difficult to unseat that. That's a big part of the reason why crypto prices are so volatile. There still isn't enough broader, global, sustained international belief in the top handful of digital assets (this is why stablecoins are a key intermediary step). Outside the CT bubble, many everyday people still don't know what crypto is, but they know what gold is and that it has value and that you can immediately use it to barter for something you want. As historians have explained in detail, humans moved away from gold and silver bars and coins toward modern-day paper money in part because it was more convenient than lugging gold everywhere with you. Similarly, banks now use digitized money systems and people often pay with plastic cards instead of paper money. Depositors trust that today's banks are backing those online numbers with real money somewhere, to some extent. The next step toward making money even more seamless, fair, and rewarding for consumers is with digital assets. And things are changing. Banks are realizing the capabilities blockchains and protocols have. Some of them are concerned about how DeFi yield can outperform and displace the measly yield they're currently offering to customers. But this competition is good, and it's all part of what a free market looks like. Blockchains power higher yield for consumers, faster payments, and a more seamless money system. So at the end of the day, this price ratio and whether it's going up or down month-to-month doesn't really matter. The entire financial system is going to change in a major way. If regulators do the right thing, we'll ultimately see a more competitive system emerge that's better for the people.