Will bitcoin overtake golds place?
It might be the case investors and adopters will use both gold and bitcoin, revealing either/or debates to be more about blackening bitcoins reputation than substantial analysis. Legacy banks usually prefer status quo to radical innovation.
Are you hedging in preference to bitcoin over gold?
Isn't bitcoin has already surpasses in term of its price?
However, there's no doubt that gold has been with us for thousands of years and has a good tracking record. It was even used as payment method during the last World War so definitely gold is a good hedge. Although one advantage of bitcoin is that its inflationary nature. Its supply is pegged at roughly 21M so there's no over production on bitcoin and the value can rise overtime. But gold, with its rich history can't be taken for granted and many gold investors are buying it because its really a 'store of value" and not relying to internet. This is some of the argument that gold holders has, bitcoin network can be disrupted anytime specially in the case of a global war wherein there's no internet. With that said, we must take advantage of them both. If you have the capacity to buy, then diversity and get gold and bitcoin as hedge.