How is bitcoin okay in AE?

I’m not well versed in AE, but one thing I’m fairly certain about is that AE touts commodity backed currencies as the only valid form of currency. I’m all about bitcoin, I understand how it works in great detail. What I’m wondering is, how can an inconvertible currency, like bitcoin which is no different than fiat in that matter, mesh with the Austrian school? It seems to be antithetical to the fundamental belief in commodity backed currency. I can’t go to a bank vault and pull out the gold that’s being held in reserves for my bitcoin. I can certainly purchase gold with my bitcoin, just like I can with fiat, but that’s not the same thing.

Anybody have a good answer? I see a lot of AE people tout bitcoin but it’s just as far removed from the gold standard as fiat, it literally only removes government levers from the equation… to a degree, as we all know that the whales control the flow of equity in the ecosystem regardless of its mechanisms, and big government and big business are just getting started in the space. Rest assured, much like the stock market, big players are manipulating price action to extract as much wealth from the lower classes as possible (see spoofing and similar practices). And please I don’t need any explanations on how Bitcoin works. I understand it very well, just want to understand how Bitcoin is validated in the Austrian school when it’s squarely against one of their core tenants of commodity backed currencies.