Banks fail savings.  Bitcoin is the alternative - Bitcoin Magazine

Banks fail savings. Bitcoin is the alternative – Bitcoin Magazine

This is the opening opinion by Julian Linger Co-founder and CEO of Relai, a bitcoin-only investment app.

Conventional banks are shifting short customers by failing to reflect inflationary changes in interest rates at the savings account they offer. on me modifiedthis accounts for 0.3% in the US – a symbolic rate in the context of today’s economic landscape.

Some may remember that during lockdowns families in the UK saved an extra 190 billion poundsHowever, the value of this cash for rainy days eroded rapidly due to inflation. Inflation is a “silent thief” and its effect means that savers will continue to watch their hard-earned savings deplete in value, or they can look for alternatives with long-term value.

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