My bad, I didn’t consider that.. thanks for pointing it out. So with that in mind, there’s actually clear growth in terms of average transactions per day.
Still the growth is less than expected if you take into account Bitcoin's price increase since 2023, which results already in some "natural growth" in the volume being transferred, and thus I wrote that you were not completely wrong. From my interpretation, it is the case that
most of the growth comes from investment (ETFs etc.), but a small portion may come from the growth as a currency too.
If bitcoin can increase 10x in the next 15 years, it is not unreasonable for gold to double or even triple.
I expect that if Bitcoin's market cap continues to approach "the value of all gold" in the world, the idea that both are competitors could become more popular. And thus a Bitcoin price increase, if it's related to massive investments like treasuries (both corporate and public), could lead to gold actually lose some of its market cap and also share.
I think also gold is in a bubble right now due to the unstable international situation, so I would not be surprised for it to fall below $3000 again. Bitcoin may be too, but in the case of gold the long term trend is much less clearly positive (there were actually decade-long bear markets) than in the case of Bitcoin.