Gold has been used as a standard of value for trading commodities. The problem with Gold is that its price gets grossly manipulated by corrupt people in power. Lab test results could be faked in order to produce price bubbles. Bitcoin’s existence doesn’t need lab tests and is safe from fakers.
Its current price just show how more trusted Bitcoin is, compared to Gold.
Bitcoin’s jump to record highs this week put the digital currency close to tripling the price of gold.