“Gold or Bitcoin?” is seems to becoming an idea of this era, and is rising now. People sense that the world’s banking systems are at risk due to crypto currencies, and are thinking about more alternatives. Some people think that the boom in unoccupied, foreign-owned apartments in major cities worldwide is driven by the same urge to own assets outside of banks’ digital environment.
We want something easier to transact and thus Bitcoin takes over Gold. One popular use of Bitcoin has been for long-distance transactions, such as remittances particularly Philippines and India, from immigrant workers back to their families at home. In the past, this required services like Western Union, which chargees big fees. Also, Bitcoin can be subdivided almost indefinitely, and works well for small transactions even as low as $5. Where as Gold can not be subdivided to a ratio similar to Bitcoin
However, gold still have some usage and has been known for its stability in the long term unlike Bitcoin which has a volatile history. Thus many commodities can not be based on Bitcoin, further Gold can be a stable store of value and a long term saving account, However Bitcoin and cryptos still compete somewhat with gold at this position.
You can read more about the story : https://www.forbes.com/sites/nathanlewis/2017/06/30/gold-or-bitcoin-gold-and-bitcoin/#1aa9a6c3e4b3