This is not a thing of competition so why should it challenge gold, whereas gold has it own economical benefit that some people refers bitcoin as a digital gold, let's get it right that here bitcoin is not challenging gold but rather it has come to challenge centralization era.


I guess here you're referring to fiat being the number one currency, bitcoin does not only cone to challenge fiat, it has come to grant us the freedom our central authorities couldn't have given, erase the cross boarder transactions challenges with fees and delay in time, and it has finally come to render us full control over our financial lives which has been taken long time ago.