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Bitcoin is trying to find its place as replacement of money.
One function it must fulfill to reach that goal is become a hedge for uncertainty.
In the Russia Ukraine Bitcoin to an extent filled that void.
In the last 4 years Bitcoin is down from its almost 70 000 USD peak to circa 40 000 USD currently.
So as a store of value, Bitcoin did not work so well.
But as a hedge for uncertainty in the last rolling year, Bitcoin fulfilled its purpose.
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