The competition between Bitcoin and gold is essentially a confrontation between mathematics and chemistry.

First, let's look at scarcity. Gold's rarity stems from a chemical coincidence during Earth's formation, and humans cannot predict how much is still buried underground. Bitcoin is different — the cap of 21 million coins is permanently embedded in the code, representing absolute mathematical scarcity. Once mined out, it's truly gone.

Next, let's consider functionality. Physical gold is essentially a relic of primitive wealth concepts. It is difficult to trade, does not generate income, and is cumbersome to store and transfer. Bitcoin, on the other hand, can thrive within the DeFi ecosystem, serve as collateral for smart contracts, support cross-border instant transfers, and circulate freely among multiple wallets — this is what modern high-liquidity assets look like.

From a macro perspective, gold represents an obsession with the past, while Bitcoin signifies a bet on the future. When the market wavers in uncertainty, holders often need a logical framework for self-assurance — and that framework is that the scarcity brought by technological innovation will always surpass geological scarcity.