According to online reports, the latest academic research shows that although Bitcoin is often called "digital gold" and has scarcity and decentralized characteristics, it still cannot completely replace gold as a value storage tool. Research has found that Bitcoin exhibits high volatility, is inconsistent with the behavior of traditional safe-haven assets, and is more similar to speculative assets. Andrew Urquhart, professor of finance at Birmingham Business School, pointed out that Bitcoin may be superior to gold as a risk hedging tool in the short term, but it lacks gold's historical record, stability and crisis-tested resilience. As institutional investment increases and the market matures, Bitcoin may gradually develop into an asset more similar to gold, but the two are currently more complementary rather than alternative.