We hear bitcoin function is like a gold but only better and with higher profitability.
these are not the only differences!
But can bitcoin function like Ether?
no because bitcoin is a decentralized currency with fair distribution and it will remain like that.
but ether is a centralized useless token that only ICOs use for pumping and making fast money.
As a token that can be used in different applications, contracts, a representation for a thing or an object?
it is only smart contracts which are also available in bitcoin.
there are also side chains like RSK which will bring the same functionality to bitcoin. so yes bitcoin can be used in ICOs, lets hope it doesn't attract that many of them since most of them are junk.