Bitcoin's price is approaching a new all-time high, but bitcoin is not yet the replacement for gold many think. : The price of gold is off from its all-time high while bitcoin is within striking distance of a record. Billions of dollars are flowing out of gold while institutional money is pouring into bitcoin. The narrative for some cryptocurrency advocates – and a growing chorus on Wall Street – is that investors have finally seen the light and are pulling money out of the yellow metal, an ancient hedge against inflation, and into bitcoin, the safe haven of the future.