"Crypto, and right now bitcoin especially, is the new gold. It is better at doing what gold lovers like to do with gold, store it for the day before the end of the world when they expect gold will be the only thing that will retain value. Even without crypto replacing gold for this job, gold isn’t actually good insurance for when the world comes unpicked. As people that swapped their gold for a cigarette in WW2 found out, gold is not great money. However, there is a market need for an asset as insurance again disaster and gold has filled that niche for a very long time."
https://www.forbes.com/sites/investor/2018/07/24/trade-war-will-launch-bitcoin-as-the-new-gold/#59e649bd1c32