Not quite ...
Gold is a 5000 year old convention - across cultures, languages, geographies and epochs.
BTC is a few years old, and nobody really cares about it that much.
Yes - they are essentially 'conventions', but they're so different in that regard they are hardly comparable.
It has (artificial) scarcity.
I think you'd have to be very ... optimistic to view BTC as a long term hedge like gold right now.
There is no reason to think bitcoin is a good long term hedge.
By your logic anything could be a hedge in future. Which is strictly speaking true, but not very useful.
You may wish to consider the ~25% drop we've seen in the last couple of weeks when deciding on how well bitcoin holds its value through the ages...
anything could not be a hedge. It needs to be liquid, transferable, international, etc. etc. bitcoin is on the way there. I am not saying it will supplant gold, I am saying it could. that probability is certainly not zero.
That doesn't mean I think they're a reliable investment or comparable to gold, just that in hindsight I could have been very rich by for a few bucks back then.
Ah well.
Gold and BTC are not nearly the same thing.
The value as a currency is what would give them existential staying power.
The USD is not hugely valuable because it's backed by US treasuries - it's valuable because it's extremely liquid and can be used ubiquitously.
BTC etc. bubbles may not 'pop' like tulips, because there are a) institutional holders of major blocks that can do things to keep the price up, b) speculative holders have no need to liquidate and I think will want to 'hold' so as to avoid losses and c) there is a small 'actual' area wherein BTC is a currency, which is the black market. There is, globally enough of a 'general black market' to create some demand for BTC as a currency.
I think those 3 things combined means that it's possible BTC can hold it's 'paper value' for quite a long time.
Two other existential factors:
1) The BTC mania has yet to truly hit mainstream, and it's making it's way globally.
2) The press is still piling on the hyper. A lot of bloggers have positions in BTC they do not disclose.
But it's all ridiculous and fake speculation.
Jaimie Dimon is technically correct, this BTC 'makes no sense' - but if enough people believe in it enough, then it will exist.