Gold has no intrinsic value and the same is true for everything else including bitcoin, people have the illusion that gold has intrinsic value because it has been valuable for thousands of years, but the value of gold comes from its use as money and its scarcity, but if something better than gold was created then gold could begin to lose some of that value, which is why some speculate that the market cap of bitcoin will grow because it will take money away from the gold market.