Bitcoin is the perfect refuge value, since in the end the bitcoin is the hardest currency that exists, with a stop to flow ratio very high, which now has similarity to gold and surely exceeds it, the stop to flow ratio is the ratio what is there between the amount of something in the market and the amount that is produced annually, and if this amount means that there is much more in the market right now than what is produced, therefore it is being produced on a small scale, that makes it a scarce commodity, when I tell them of hard money I mean it is difficult to produce, that it has a high stop to flow ratio and when talking about soft or easy money, it is taken as a reference for money that is easy to produce such as Fiat money, for example the euro or the dollar, everything that is produced is worthless and its production cost is almost zero.
Historically a refuge value like gold has had a stop to flow ratio high, that means that the amount of gold produced is always lower than what is already in the market, currently has an average value of 2.5 or 3 % per year, it is also important that this can not be modified if you want, that is, if you are producing 2% of annual gold for example, change it to 10%, it is important that this is not done for a value shelter keep your property as a safe haven, in fact gold for its cases is difficult to produce no matter how much you want.
One of the characteristics that has a refuge value, is that with time neither keep the price nor go down, but rise, that is the refuge value makes that with time rise, precisely because of that stop to flow ratio high, as the people want it and it can not be produced much more, people are kneading it, the supply of everything that is produced per year is left in the hands of more people who believe in gold as a good refuge value.
Bitcoin currently produces about 4% per year of that which already exists, that is practically double that of gold, but the reality is that bitcoin in the long term is much harder than gold, because there is one thing that is called halving, this means that every four years is divided in two the reward to the miners, every time is and will be more scarce to produce bitcoin, now for each block mined you get about 12.5 bitcoins every ten minutes, but in 2020 you will get 6.25 , and thus every four years will be reduced by half.
Then in 2020 the stop to flow ratio will already be as little as gold and four years later it will be half and so will be reduced until in the year 2148 no more bitcoins will be mined and that will be the scarcest good, to Unlike the gold that in spite of everything can always be mined, besides that, gold is not used as a currency and bitcoin is probably the best currency that exists.