For a while, the outlook for cryptocurrencies seemed bleak, with many naysayers predicting the bubble would burst. However, investor and author Ruchir Sharma sees a different story unfolding. In an interview with Business Today’s Executive Director Rahul Kanwal, Ruchir Sharma explained why cryptocurrencies, alongside gold, are emerging as long-term alternatives to traditional assets, particularly the US dollar. Sharma put the situation into context, highlighting the growing search for alternatives to the US dollar. "People are looking for alternatives to the US dollar, and they have not been able to find it in other currencies because, whether it's the Chinese currency or the euro, they face even bigger problems than America does." As a result, both gold and cryptocurrencies like Bitcoin have become the default options for those seeking stability in uncertain times. Sharma pointed out that many crypto enthusiasts once believed Bitcoin could replace gold. While Bitcoin has performed well, gold has not fallen behind. "Gold has done equally well this year, or almost as well as crypto has done," Sharma noted, highlighting that both assets are becoming increasingly recognised as secure investments. Looking to the future, Sharma affirmed that cryptocurrencies have proven their staying power. "Crypto is here to stay," he said. "There's a lot of speculative fluff which has been built up on the price, but I think as an asset class, it's here to stay." He explained that both gold and cryptocurrencies are likely to see growing allocations in investment portfolios over time.