Nope, Bitcoin may be the winner in this particular battle but not the entire war. I'm only talking about the investment or price war and nothing else. I'd like to believe that in general there is really no need to pit gold against Bitcoin.

Gold is only scarce because it is hard to extract. While others estimate the remaining gold deposits to be only around 20%, and that it is actually one of the finite resources of the earth, there is actually so much more in abundance in the deeper grounds. But that does not mean gold is inferior to Bitcoin.

The reason why gold has become so valuable is something Bitcoin cannot displace. This beautiful metal has a lot of other more practical uses.