Gold has a myriad of uses outside of it being a heavy rock. If it's price were to drop substantially it's use in industry would increase substantially and we know what happens to price when demand increases.
I don’t think industry is the floor you think it is. They’ll happily pay as little as they can for it.
I think the more honest measure is simply how many people have faith in it. Bitcoin and gold may be logically equivalent for this function, but a lot more people have a lot more faith in gold.
I think the more honest measure is simply how many people have faith in it. Bitcoin and gold may be logically equivalent for this function, but a lot more people have a lot more faith in gold.