Good read! As an investment, Bitcoin the asset is a hedge against money supply inflation, but not against CPI inflation (which lags money supply inflation by 12-18 months it seems).

But it's value as a tool for censorship-resistant transactions has only really started taking off in parts of the world where that's needed and desirable - Argentina, Brazil, Nigeria, Ukraine, Vietnam, Philippines, etc. Our payments systems in the West and in China are pretty good, but will be outcompeted over time as long as there's interested developers and passionate users.