Bitcoin is energetically and computationally inefficient.
Had it not been the case, it would have been quite a catch at current prices.
But there already are more efficient alternatives which are inflation resistant as well.
STEEM is not inflation resistant, but in countries with inflation rate higher than STEEM's, even STEEM can be used as a hedge against inflation, and fact is its price rose.
I do not recommend to buy STEEM, I just wrote about it because it crossed my mind after I started to write.