It would be a complete mess if you back crypto by gold.
This lesson was learnt by the dollar when Bretton-Woods collapsed in 1973.
"The drain on US gold reserves culminated with the London Gold Pool collapse in March 1968.[41] By 1970, the U.S. had seen its gold coverage deteriorate from 55% to 22%. ..."
Exactly the same would happen to crypto at some point and then there would be not enough physical gold to back crypto.
And all of a sudden the Crypto Bretton Woods system would collapse.
https://en.wikipedia.org/wiki/Bretton_Woods_system
I think this would not work.