The USD is backed by a government with a $1 trillion+/yr military that consists of ICBMs, aircraft carriers, stealth bombers, etc. Gold has some limited industrial uses. Equity shares are backed by corporations with current or future expected earnings. What is bit coin backed by?
What bitcoin is backed by? The answer is nothing at all, but that's actually not a bad thing. You don't understand bitcoin because you think fiat money is real.