Gold is a risk off asset, Bitcoin is a risk on asset but Bitcoin is the far better asset. You will make much more profit in Bitcoin holding over the long term. Bitcoin is gaining increasing adoption & credibility within the traditional financial world so I would not bother investing in Gold because Bitcoin is far better.
I think any asset has its own risks, there is no risk-free asset including gold or real estate, but their risk will be lower than bitcoin. In my opinion, gold is the perfect safe haven for people who like safety and do not want to take risks. Meanwhile, bitcoin has higher risk but that does not mean it is not safe, and if we take the risk then we have a chance to get a bigger reward.
The reason most people will choose to invest in bitcoin and not gold is because everyone wants to get rich with their little capital and only bitcoin can provide that opportunity, both gold and real estate are it is impossible to do. But if you owned millions of dollars or had enough money to live a lavish lifestyle, would you still invest in bitcoin or would you choose a less risky solution? I guess then, you won't choose bitcoin anymore but will choose gold and real estate instead.