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Banks Are Failing Savers. Bitcoin Is The Alternative – Bitcoin Magazine



This is an editorial opinion of Julian Liniger, co-founder and CEO of Relai, a bitcoin-only investment app.

Traditional banks are volatile customers because they do not reflect inflationary changes in the savings account rates they offer. Above mediumthese accounts in the US is 0.3% – a nominal rate in the current economic context.

Some may remember that during the lockdown, UK households saved extra 190 billion pounds, but the value of these rainy day cash funds has been rapidly eroding due to inflation. Inflation is a “silent thief” and its effects mean savers will continue to watch their hard-earned savings deplete in value or they may look to alternatives. long-term storage value.

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