I doubt Bitcoin can replace oil and gold, because both have been used for thousands of years. Indeed, for now investing in Bitcoin is
more profitable than investing in oil and gold, but because Bitcoin cannot be controlled by the government. So the government definitely
prefers oil and gold over Bitcoin. I think Bitcoin will probably only be used as an investment alternative, after all, Bitcoin's popularity is
still below oil and gold. There are still many people who don't understand Bitcoin, so it's too early to mention Bitcoin will replace oil and gold.
Crude oil is pretty new in terms of human history. It wasn't a major part of the economy or of much importance at all until the industrial revolution. Gold has thousands of years of history as a store of value. Bitcoin may eventually become a dependable store of value, but the use case for it is extremely low on a practical level. Almost nobody uses it for anything other than speculation at this point due to the wild price swings. It's just another form of gambling.