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Well, gold has actual value as it has actual usages beyond jewellery/status-symbol. Bitcoin not so much.

• cblconfederate 5y ago
  it doesn't though. The reasons why it's kept as store of value are historic, and its real world usage is a side show that can't really justify its speculative value. It represents something that globally people believe in. Most of the gold is not held physically. NFTs are status symbols, but i haven't seen bitcoin worn as jewellery yet. In any case, if people could use bitcoin to paint their house, its value wouldn't go up
• sb057 5y ago
  Gold's value, however, is not derived from its industrial and other such uses. If it was, the price of gold would be somewhere in the $200/oz range. Gold is valuable because of its historical role as a monetary metal. So while gold has a sort of industrial "backstop" that would set a price floor, absolutely no one is buying or owning gold with the expectation that it might lose 90% of its value.