Research: Bitcoin has not yet fully replaced gold as a store of value.

Golden Finance reported that the latest academic research shows that although Bitcoin is often referred to as digital gold and possesses characteristics of scarcity and Decentralization, it has not yet fully replaced gold as a value storage tool. The study found that Bitcoin exhibits high Fluctuation, which is inconsistent with the behavior of traditional safe-haven assets, and is more similar to speculative assets. Andrew Urquhart, a finance professor at Birmingham Business School, pointed out that Bitcoin may outperform gold as a risk Hedging tool in the short term, but it lacks gold’s historical record, stability, and crisis-tested resilience. As institutional investment increases and the market matures, Bitcoin may gradually evolve into an asset more akin to gold, but currently, the two are more complementary than substitutive.