Spot Bitcoin ETFs have accumulated approximately $55 billion in net inflows in less than 2 years.

In comparison, gold ETFs took about 15 years to reach a similar scale.
More importantly, when Bitcoin reached this scale,
the market experienced a drawdown of about 46%, and it was even considered a "cycle end" for several consecutive months.
What truly matters is not the price, but the speed at which institutions are adopting it.
Gold has a 5,000-year history and brand advantage,
but in terms of institutional capital inflow speed, Bitcoin has already clearly been faster.
So the question may not be:
Will Bitcoin replace gold? But rather,
Capital is now treating it as a new store of value at an unprecedented rate.