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Almost half of the world gold demand is for speculative/investment purposes[1]. If you consider jewelry to be speculative as well (at least partially, since if you only cared about appearance you could just plate it), the vast majority isn't "useful".

[1] https://www.statista.com/statistics/299609/gold-demand-by-in...

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> Almost half of the world gold demand is for speculative/investment purposes

fair (and I think gold as a "beautiful" metal is dumb), but the other half of the usage (on your claim) is for an array of productive things. I don't see wires, heat reflectors, etc being made out of bitcoin.

>but the other half of the usage (on your claim) is for an array of productive things

It's far less than that. Only 7.48% is definitely useful (under "technology").

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