I would hold a basket of assets, if I had the ability too and of course gold would certainly be in my portfolio. Silver is also going to be another good asset to hold as well and could be the cheaper option for those who cannot hoard hoards of gold. Bitcoin is great as well as you can start with very small amounts, depending on the size of your pocket. For now we trade more with my Wife so we can hedge against inflation and also the volatility of gold and bitcoin prices in general and the devaluation of FIAT. I THINK RIGHT NOW IT IS THE ONLY WAY TO STAY AHEAD OF THE GAME, TO KEEP MAKING AND TAKING PROFITS. We learned this great lesson the hard way, after we lost all we made in 2015-2018 in the bear market.
In terms of recession, it is good to accumulate assets and it is by buying gold. Bitcoin is also a asset but it is speculative asset. I prefer gold in terms of recession because it is a safe investment that you can do to survive to avoid the next recession. There are many assets vehicle that you should invest like the real estate and also in the stock market.
Gold as physical asset would be a good diversions of our investments while bitcoin was still at recession. With that ways, you can both manage your digital and physical asset to which of them will gain much better. In any situations you will be benefited each and every holdings you had brought up. That wouldn't be worthless, at least you knew where your funds was accumulated.