The reason why gold and silver have that issue is because it's unwieldly to transfer and hold and secure. It's physical metal in a digital age. If you want to take possession of gold or silver from a major commodities/futures exchange, it literally involves an armed guard transfer and is very expensive and time-consuming.

In contrast, a bitcoin transaction can be sent and confirmed within the hour. Attempts to rehypothecate bitcoin at scale get punished way faster, and fiat doesn't have the speed advantages over bitcoin that it has over gold and silver.

When gold and silver were rehypothecated and fiat currencies broke away from them, people kept using fiat currencies anyway because they were fast. Whereas now, bitcoin is as fast as fiat currencies but doesn't have the supply dilution.