Relative purchasing power is important.
For the sake of simplicity, let's use the current dollar market cap of each of these.
Gold is 12 Trillion dollars. Bitcoin is half a trillion dollars. That's a 24x delta.
And yet, gold is riddled with monetary issues. Hard to verify. Hard to buy/sell without paying large premiums as an individual investor. Hard to self custody securely. Hard to secure. Hard use as a medium of exchange. Always trends toward centralization in order to mitigate all the issues I just listed.
So why can I buy 24x more with it? Bitcoin is objectively better in almost every way.
I will consider owning gold when it isn't so damned overvalued, and/or when Bitcoin isn't so damned undervalued. Until then, it's Bitcoin only.