Look up Grisham's law. Bad money chases out good money. It makes sense to part with fiat - which functions as a receipt - rather than gold. Fiat is more plentiful, convenient, is legal tender, etc. If you made a purchase valued at $1,270 - and had both fiat and gold - which would you rather part with? Remember, the fiat is guaranteed to lose value over time. The gold may go down, but also may rise in fiat terms, as it has for the past 45 years. In any case, bitcoin is by far the riskiest store of value.