It is very volatile yes, and over twelve years this volatility has returned a 3x on investment on average, every year. Conversely, for someone deciding between the two, holding fiat has been equally as volatile, and returned a ~66% loss each year by comparison.
People looking for extreme safety might want to at least put a tiny bit into Bitcoin or some other crypto. Certainly, they'd be significantly "safer" now had they done so at any point over the past decade.
>People looking for extreme safety might want to at least put a tiny bit into Bitcoin or some other crypto.
This. This is why people put money in bonds and gold. It's not a get rich quick scheme, it's an uncorrelated asset. Which BTC absolutely might (heavy emphasis on might) be. BTC is a perfectly valid hedge, but beyond that it's speculation.
At the start of 2018 BTC hit around ~17k, it took 2 years to get back to that price and the history of this asset means you can't even expect that to be predictive. So be careful.
People looking for extreme safety might want to at least put a tiny bit into Bitcoin or some other crypto. Certainly, they'd be significantly "safer" now had they done so at any point over the past decade.