Exactly. Bitcoin proponents tend to tell only half of the story, and pick and choose economic theory that fits the "buy more bitcoin" narrative.
In economic terms, Bitcoin is inflating as an asset. Specifically, it's demand-pull inflation.
Bitcoin isn't even uniquely positioned to protect against inflation, other than the mistaken public belief on that topic. Inflation is an increase in the price of assets, so investors can (and do) escape inflation by investing their money.
Ironically, Bitcoin's limited supply disincentivizes holders from investing their money.
In economic terms, Bitcoin is inflating as an asset. Specifically, it's demand-pull inflation.
Bitcoin isn't even uniquely positioned to protect against inflation, other than the mistaken public belief on that topic. Inflation is an increase in the price of assets, so investors can (and do) escape inflation by investing their money.
Ironically, Bitcoin's limited supply disincentivizes holders from investing their money.