I don't think this is true. I don't know anyone who would have benefited from owning gold or bitcoin in an emergency. However, my hometown once had its only internet exchange catch on fire, and the bank had a multiple-hour queue going around the block to withdraw a maximum of (I think) $300 in cash. I've also loaned money to people whose bank accounts got flagged.

For those reasons I keep a week of cash on hand, not because civilisation might collapse, but as a buffer if my access to the banking system is disrupted.

Depending on your hobbies, having access to cash to make purchases is pretty important. (Do you collect arcade machines, vintage bikes or vintage anything else? If so, you might want to buy something with cash that costs a $1000 or two).

For a while last year, bank branches had pretty limited hours, and I bank with a out of state credit union (because they have decent interest rates, even if that's 0.5% these days), and some co-op network branches weren't doing shared branching either. So, if I want to be able to buy something over my daily ATM limit, I had to hoard cash, since I couldm't be sure I'd have access to it.

Of course, prices haven't been great for buyers on most things (although I did pick up a well priced Street Fighter II Turbo early last summer and a not terribly priced tandem this spring; lots more nice things went at prices I'm not willing to pay)

The reason those people exist is that the US banking system is so bizarrely dysfunctional. The American system is corrupt and byzantine and antiquated and leaves tens of millions of people out in the cold. Those people are absolutely right to be furious. They're just wrong about the solution.

I dont think either of those is any great option but government has really damaged our banking system. Having no ability to withdraw own money or having the IRS snoop if you have more than $x in an account is so really wrong and makes me want to look elsewhere, just there dont seem to be many good alternatives.