Bitcoin and tokenized gold, such as Tether Gold (XAUT), are vying for the title of 'digital gold' amid growing macroeconomic uncertainty. Bitcoin is praised for its trustless consensus mechanism, positioning it as a secure store of value. Meanwhile, tokenized gold benefits from institutional trust and programmability, appealing to investors seeking real-world asset backing. As the Real-World Assets (RWA) movement gains momentum, the debate over which asset truly embodies 'digital gold' continues to heat up.