Bloomberg: Americans Trade Depreciating Dollars For Bitcoin
Cointelegraph
Published Jul 31, 2020 04:50PM ET
Updated Aug 01, 2020 06:40PM ET
A Bloomberg article claims that Americans are foregoing the safety of the dollar for more speculative assets like stocks, gold, and Bitcoin (BTC).
Because of the COVID-19 lockdown, the personal savings rate in the U.S. is at a historic high. The yield offered by the financial institutions on savings accounts, however, is close to zero. At the same time, assets as Bitcoin, equities, and gold, all have made double-digit gains since March. This is making them an attractive option for investors.
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Written By: Cointelegraph
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