Bitcoin can't replace gold. Gold has been around as store of value for thousands of years, digital age will not change that. But bitcoin is slowly becoming a store of value of modern times. Myself I invest in both - diversification is always advisable for any investments.
Bitcoin does not need to replace gold, gold hoarders can keep their gold what bitcoin needs to do is to prove that we can use it for our daily needs, right now bitcoin has not proved that since Im sure that I like most people in the forum have never bought anything with bitcoin in a physical store.