Yes! and No! depending on the factor by which you’re evaluating them.
In terms of potential return on investment (ROI)
Avalanche (AVAX) has greater upside potential than Bitcoin.
For example, it’s easier for AVAX to do a 10x from here in the next 6 months to 1 year than Bitcoin.
So in terms of potential returns, yes, Avalanche is a better investment than Bitcoin.
In terms of utility
Avalanche, being a smart contract platform has more utility than Bitcoin.
Bitcoin is purely a speculative digital asset whose only use case is as a means of exchange and store of value.
Avalance has much more use cases in addition to what Bitcoin is used. For example, it’s used to pay for transaction fees by all dApps on the Avalanche network.
In terms of tokenomics
This is a very delicate and controversial one.
Avalanche supply (720 million) is 34x that of Bitcoin (21 million). Of this 720 million, only about 25% (180,000,000) is in circulation, compared to Bitcoin’s 90% (18.8 million).
However, all transaction fees on Avalanche are burned (destroyed) forever, thus reducing the supply gradually.
On this note, I consider being a better investment than bitcoin as the burning mechanism will only add to its upward price pressure.
In terms of network effect and community acceptance
Bitcoin is what people hear on Television, radio stations and other media channels
Furthermore, Avalanche is widely more accepted both within and outside the cryptocurrency market than bitcoin.
On this note alone, if I have to choose, I would choose Avalanche over bitcoin as it's more widely accepted, secure, and less likely to die first.
Return on Investment
Note :-
I am not a financial advisor. These are my own thoughts.