Could bitcoin ever become gold?

Different views have been delivered on this subject. It is the younger generation that is buying bitcoin compared to who buys gold. On the other hand, since the second half of 2020, more institutions have become buyers of bitcoin. As JPM points out;

"...private gold wealth is mostly stored via gold bars and coins the stock of which, excluding those held by central banks, amounts to 42,600 tonnes or $2.7tr including gold ETFs. Mechanically, the market cap of bitcoin at $600bn currently would have to rise by almost x4.5 from here, implying a theoretical bitcoin price of $146k, to match the total private sector investment in gold via ETFs or bars and coins."