"There's a structural flaw in gold. Because it's physical, you can't really use it to settle international transactions. You either have to store it with a third-party -- a vault in Switzerland, London, or New York, which puts it at high risk of seizure -- or you have to transport it via insecure/slow planes, trains, and busses. No central bank wants these things." A classic debate/sales technique when you position one thing vs. another is to focus attention on a small issue with one side, rather than providing a balanced view. Nothing is perfect. And IMO it's far easier to make bitcoin holdings quasi-private than it is to make gold securely non-physical. Central bank adoption is coming. They'll hold both bitcoin and gold. It'll just take time.