You're definitely losing.
Inflation of things you actually want and need is 10-15% per year and if you're not keeping pace with that, you're losing. TIPS can't help you with real world inflation.
Look at housing, medical care, higher education, quality food—these items are increasing in cost every year by more than the fictitious 2% CPI the government aims for.
Being a store of value doesn't mean the value of something never changes or that there's no volatility; just that over the medium to long term, it will at least keep pace with inflation, so that you don't losing buying power.
Gold has traditionally been a reliable store of value, but now it's becoming bitcoin.
Bitcoin has never had a negative 5-year period, but the return on TIPS can be negative during a deflationary period, not to mention federal taxes that occur while you hold them [1].
Bitcoin is only taxable when you sell, which, if you're smart, you never actually have to do, since you can borrow dollars using bitcoin as collateral [2].
[1] https://www.thebalance.com/how-do-tips-work-417128
[2] https://news.bitcoin.com/10-loan-providers-taking-crypto-as-...