This is the question that always being asked by many people, for me if you have so many funds and money, diversifies your wealth, invest in both thing,s or invest in many things so that you will have a choice. Gold price is continuously growing after so may years, each karat is precious as time passes by it rises, in bitcoin, there will be ups and downs in the price but it will always pump, but not stable. So it is up to you, bitcoin can be converted in different coins as well, which is good you may scalp and arbitrage, it will all depends on how much money you are holding and also what is the current economic status.
It is all about risk tolerance, if you are a type of people who are afraid to take risks wherein you want to have safe investment then maybe gold is suitable for you because it is called sa safe haven asset after all. I'm a type of investor who like to take high risk so for me bitcoin is more good investment than gold. If I huge amount of money, I will invest 90% of it in bitcoin and the other 10% in gold, my allocation is like that because I want to have more bitcoins than gold.