This is simply a misunderstanding of what's truly private and public. In essence, Bitcoin is the genuine public currency. It is public in the strictest sense of the word. It is owned and controlled by nobody but the general public. There is no central authority from which control is exclusively emanating.
Governments often have a distorted view of what's public. Anything beyond their control they consider private. Anything created and issued outside their authority and power is private. Public is everything they control. That which is beyond is private.
The problem is that Bitcoin is still subject to superior power. Saying that Bitcoin is the best form of private property because it ensures you are entitled to your rights and claims in a superior way might not be correct. States could still do a lot of stuff to destroy the value of Bitcoin by force.
Bitcoin, as a protocol, is public. Owning Bitcoin, the native currency of the network, is private ownership. Bitcoin as a private property is indeed superior than others. You may own a piece of land, a savings account in a bank, an apartment, and so on; the sense of ownership of all of this is inferior compared to owning Bitcoin.
However, as regards price value, it is beyond the control of any individual since the public aspect of Bitcoin comes in. The price value is always determined by the general public. No single entity like a central bank or a government determines or dictates its price. Since Bitcoin has no owner or issuer, its value under no one's control, everything depends on the public. As such, it is susceptible to the ills of the old system. But what else could we do? That's the price of freedom. That's the compromise Bitcoin has to take for being truly public.
