Unlike gold a BTC has absolutely no use beyond whatever its current use is. The only way for a BTC to be ever in demand is if enough people trust each other that nobody will start selling it in large mass and therefore entirely flooring the value of it. However trust is not exactly a great foundation for a currency's value. Gold has at least has some useful applications outside of banking. For a start it looks beautiful, it is highly in demand in fashion and jewellery an it has also great application in electronics. This is a much better foundation for being resilient against a complete loss of value and promising longevity.
Besides BTC has serious flaws in order to attract a critical mass. It is extremely unsustainable - for example buying a sandwich with BTC requires more energy than a house for an entire week. This is alone is just horrible, especially in times when we should be trying to save our planet and not waste energy for shits like this. Secondly with it's current volatility the people who own BTC are much much less likely to spend it somewhere, because of the hope of gaining more value. However if nobody is willing to spend their BTC then adoption will lack and eventually counter act on it's value.
Thirdly you can't really convert the value of BTC into hard cash and even if you could, before you'd finish converting a large amount of BTC into cash you'd have halved the price of the BTC as part of the exercise.
Overall the technology behind it is interesting, but BTC I honestly think will massively flop and the current hype comes from pure greed. Investors trying to convince the populus to buy into BTC so they can finally cash out, but the reality is that for the normal person BTC is literally too cryptic to jump on the train and tech savvy people know better that it's too late now. It's too volatile and anything can happen. You don't buy expensive assets which are so widely known that they are in the news every day. This is too late.. we just watch and wait for the burst.