I don't see this happening. It will be difficult to replace gold due to its relevance in several other sectors. Its applicability on jewellery making and store of value to several central banks around the world also makes it difficult to replace. Replacing gold with bitcoin will mean a total dislodging of traditional banking systems and beliefs which will be nearly impossible to achieve.

Moreover, gold has been used for a long time, a strong investment product with good price movements. Gold and bitcoin both have advantages and disadvantages, take advantage of the opportunities that exist and use them to maximize profits, instead of having to choose one, right?
Everyone must have their own views regarding investing, bitcoin does provide a faster profit opportunity because of its fast price movements, but the risk is also great.