Ergo, bitcoin is like gold. Hence, should be valued as gold.
Bitcoin and the like are entirely based on the idea that somebody else will want them as currency forever. Gold is based on somebody will want ti for either currency or jewelry forever. That gives gold a slight edge.
I don't know if it is significant, but it is a factor.
Oops, fork! Now there will be 42 million.
Another fork! Now the maximum is 63 million. There's no such thing as scarcity for a virtual currency.
Gold is a weirdly sticky anachronism of a wealth store that never made any sense in the first place.
Thus making tokens out them meant said tokens would last generations, and withstand the rigors of international transport.
As best i recall, gold and silver were rarely popular for domestic trade. There more common materials were used. They were instead used for international trade.
In the end people have come to confuse the token, a way to do trade accounting without an accountant always present, with the metal it was made of.
The network effect should not be underestimated. The world is filled with examples of inferior systems that exist simply because they have more momentum than others. Investors demand a “store of value” investment vehicle. Up until now, gold has led that role. Now Bitcoin will take over. Not because it is the best, but because it is first to market and has enough momentum and utility to replace it.