My proposition is that Bitcoin and gold are complementary assets—both good, both necessary, with some very different strengths.
I'll start out by stating that my proposition is: Fuck gold. It's a shitcoin. Stop talking about shitcoins here.
My alternate proposition is consider various assets in terms of "what you going to do about it?"
What is your allocation to gold? Is your allocation to gold the same as bitcoin? or is the investment thesis for gold a fraction of bitcoin's investment thesis? Such as 10% or maybe more realistically 1% or 2%?
Consider the whole matter regarding how much to invest into gold in context..
I am not completely opposed to investing in gold as a hedge, but if you really consider the matter, bitcoin serves the purposes of gold and like 1,000x better than gold, adn therefore, Gold should have an allocation in your investment portfolio that is only a fraction of bitcoin's 1% to 10% the size of your bitcoin's allocation at most.. I personally chose 0% into bitcoin, but I could understand some gold bugs or some gold nutjobs.. but still settle down gold bugs (and gold nutjobs), your investment into gold thesis has been replaced/supplanted by a better asset (aka king daddy), and if you want to stick with investing into your funzie lil tingilies - with the sparkles (aka gold), then no more than 1% to 10% the size of your BTC investment is permissible (by yours truly) to be invested in that crap.
Here's approximately how my various allocations in various assets have changed through time (from since I got into bitcoin to present.. these are approximate.. and might even be partially fictional.. you fucks).
Late 2013 (just starting to get into bitcoin - BTFC prices $1,100 -ish - immediately pre-bitcoin)
BTC Stocks Bonds (fixed/govt) Property Business Gold (Pms) Cash Hybrid Income generating funds other0% 17% 6% 5% 5% 0% 6% 59% 2%
Late 2014 (nearly met my bitcoin allocation target - which was intended to be 10% - bitcoin prices downwardly sloped all of 2014) 9.5% 13% 5% 4.5% 4.5% 0% 4.5% 57% 2%
Late 2015 (over-allocated into bitcoin by about 3.5% more than intended BTC prices - in low territories mostly around $250 for most of 2015) 13.5% 12% 4% 4.25% 4.25% 0% 4% 56.5% 1.5%
Late 2017 (my first bitcoin pump up to $20k-ish - bitcoin grew a lot and other allocations grew less)80% 2% 0.25% 0.25% 0.25% 0% 3% 14.2% .05%
Late 2018 (my first major bitcoin crash down to $3,124-ish - bitcoin values crashed but not as far as my late 2015 allocation) 42% 6% 1.25% 1.25% 1.25% 0% 2% 45.75% .5%
Late 2021 (my second bitcoin pump up to $69k-ish - bitcoin grew a lot and other allocations grew less)89% 1% 0.125% 0.125% 0.125% 0% 3% 6.62% .05%
mid 2022 (my second major bitcoin crash down to $17,593-ish - bitcoin values crashed but not as far as my late 2018 crash, so far) 63% 2% 0.5% 0.5% 0.5% 0% 1% 22.35% .15%