While bitcoin is not a hedge against inflation, gold is. The goldprice has a long history of soaring when the monetary system fails.
I have never seen the goldprice crash in times of war, but correct me if I am wrong. During WWII, the gold price doubled.
If the scenario for the coming months and years is that we are heading into WWIII, and I truly believe that we will, what is your investment strategy for crypto? In times of heavy monetary inflation/ war threats I expected the BTC price to soar, just like gold soars. In reality what we have seen is that BTC crashes hard and precious metals soar.
I think I should sell my assets prior to a major war, and buy in after the crash
While some take risks in possible scenarios, others prefer investments that they consider to be guaranteed. In both cases, investors act of their own free will. In such situations, there are those who choose between gold and Bitcoin, and there are those who invest in both.
In a possible war, as you said, precious metals may be the first choice for investment, but Bitcoin's high return chance may cause people to turn to Bitcoin for investment.
It is known that Bitcoin has a place in the world market. Therefore, it will always exist as an investment tool. I am generally against comparing gold and Bitcoin, both are good investment instruments.