I particularly hold some gold, considerably less than bitcoin, simply because I can touch it and it's nice. It has recently broken ath, just like the stock market and just like bitcoin (although bitcoin is down a bit at the moment). I think they are complementary investments, gold and bitcoin. Bitcoin is better in many ways, especially for holding and transferring, let alone if we are talking about large amounts. Besides, physical gold has a very high premium if we are talking about buying small amounts of investment gold, which is what the average citizen's pocket can afford. And if we are talking about costume jewelry it is even worse, whoever buys costume jewelry thinking that he is investing does not know what he is talking about.
But despite this, as I said, if you are going to buy gold for the long term, at least you will conserve value and beat inflation, and in case you need to convert it to cash it is very liquid, and in small quantities it is easy to store and transport.
Therefore, I believe that investing in gold today, although not the best, is quite reasonable in a small percentage in a diversified portfolio.