In the event of another big financial crisis, you might want to hold cash so that you can buy up assets and property a few years into the recession when the prices have plummeted. Holding precious metals and bitcoins is also a good bet but I still see the prices falling over the next year or so. My plan is to hold cash and buy more PMs and Bitcoins when the prices have corrected further. When the next downturn happens, I will wait for real estate prices to fall to then buy up some property at extremely discounted prices. Banks won't be lending out any money and there will very likely be increased capital controls on bank accounts and personal assets so holding hard cash is very important.
Not bad, I like how you think.
Just try to make sure that you buy BTC BEFORE the recession, as I have a VERY hard time believing the prices will drop from where they are. I'd also say the same for PM's. People could start buying up VERY quickly, and the price could skyrocket. Expect BTC and PMs to go up in a recession, don't expect them to go down. I can say with confidence that BTC will go up, since it is a secondary for of cash, and you can buy a lot of things that you can buy with fiat, often at a discounted price. You'd probably see a rise as opposed to anything.
But yes, holding cash or assets with you, such as PM's or BTC, or other alts that you think are going to survive, and hold them PHYSICALLY. Ideally, physically means on a computer or jump drive for coins, and physical gold/silver/platinum/thatothermetal for PM's, in case anyone needs clarification.