In an investment point-of-view, yes. For monetary point-of-view, yes, as gold is bulky and is harder to transport. But then again, neither of this things are the main uses for gold. For one, store of value is its primary use-case, IMO. Second is being a standard of value: no matter what era you are in and wherever you are, gold will always be considered as money, and can therefore be replaced for goods and/or whatnot. Both (bitcoin and gold) has its pros and cons, and I'm pretty sure we have been through this time and time again.