A recent analysis by Fidelity revealed an increased correlation between Bitcoin and gold in 2023, deviating from its previous inverse relationship with interest rates despite global rate hikes. The current one-year rolling correlation between Bitcoin and gold stands at 0.80, according to Longtermtrends, marking the highest level recorded.

On February 4, Cathie Wood, the founder, and CEO of ARK Invest expressed support for Bitcoin (BTC) in a chat with chief futurist Brett Winton. BTC holds the potential to surpass gold in the near future and has been rising since the launch of spot BTC ETFs. The cryptocurrency is more accessible to investors and it is emerging as a “risk off asset”. https://www.thecoinrepublic.com/2024/02/06/bitcoin-to-appear-as-substitute-of-gold-says-ark-invest-ceo/

However, I personally like both and think they are best in their respective categories. Both are rare and scarce. Both can fight against inflation. Both will remain favourite for investment forever. They aren't here to replace anything, in fact, they may be categorised as mature investments now.

But when it comes to chose between either of these. It all depends on your risk tolerance. Bitcoin is a bit more volatile than Gold as well. If your risk tolerance allows you Bitcoin is for you....