Gold isn't a very good monetary asset, since it's market is speculative and that makes it unstable. But bitcoin would be far worse, because unlike gold, it has virtually 0% intrinsic value. Stability is what the monetary system needs, because that is very important to develop the economy.
I think "intrinsic value" is bullshit.
Also, gold is impractical as a means of exchange, which hinders its "stickyness" and price stability.
If bitcoin scales well and has increased adoption, it would become more stable.