Gold has been a store of value for 5000 years. It buys today roughly what it bought 100 years ago. I think it's day is done though, because it was more trustworthy than government money. Now you have bitcoin with even more trust and less of the drawbacks.
I don't advocate buying gold now though
If bitcoin crashes to 1200, then then it will be 5 times higher than it was just last year, so that makes it a pretty good store of value.
if it takes 3 years for it to go down from 4k to 1k how is this a store of value? 5 years, 3 years or even 2 years is a long time losing hundreds of % in value to call it a store of value...
BitCoin is best viewed as an asset and is not a store of value. Correlation does not always equal causation and a trend line of positive appreciation does not mean it is a fundamental element of the technology even though it is designed to be deflationary. The blockchain and all associated technological derivatives represent a protocol that has many of the traditional markers of money but is also greater in many respects (smart contracts) and also falls short in many respects as well (no commodity backing). The system is based on faith as much as it is math and everything since the great monetary experiments of 2008 coming from the central banks have destroyed true price discovery across all asset classes and markets and that is before we get into the obvious manipulation and dirty dealings that define the modern world. Blockchain offshoots create a highly inflationary ecosystem and as the amount of new "coins" exponentially grows in the market the overall value of individual assets will be tested and new developments will absorb or reinforce older versions. This investment class is based more on rumor and political protectionism than math. Rumors and politicians are not a good combination when looking for a store of value.