Well, keeping lump sum of money in the bank is a bad mistake that anyone would do now. We have talked about this even before now that Trump is making everything go more crazy. Keeping money in the bank is just meaningless except the person is only keeping the amount they are using for daily needs but keeping huge amount for the process of savings is just a waste of waiting time because the devaluation of money will affect your saved funds and inflation will also affect it. Investing in Bitcoin is not a bad option but also not putting all your eggs in one basket is a smart idea.
Even I will say here keeping your fund or assets by the fiat currency on the bank or whatever you want to save, that's just a foolish idea because holding fiat currency it's means you are losing your Asset Value slowly even if we analyse current inflation rate then it shouldn't be called slowly.
So the good idea will be hold your fund or asset in a few parts like on the gold and as well if possible on the land and also on the Bitcoin. Here we also keep in mind we shouldn't put our all eggs in one basket. Because any incident can completely break all the eggs in our entire basket.
So if someone continues to invest in Bitcoin, even if it is a little, for a regular long term, that is the best.
The idea was worth it many years ago until inflation began to increase year after year and also the steady printing of money which has been a contributing factor to devaluation and with this tariff increase that Trump is not back down on, it has been stated that it could cause a global economic problems which i think it's true, it will even spike up the inflation rate.
Well, keeping lump sum of money in the bank is a bad mistake that anyone would do now. We have talked about this even before now that Trump is making everything go more crazy. Keeping money in the bank is just meaningless except the person is only keeping the amount they are using for daily needs but keeping huge amount for the process of savings is just a waste of waiting time because the devaluation of money will affect your saved funds and inflation will also affect it. Investing in Bitcoin is not a bad option but also not putting all your eggs in one basket is a smart idea.
It isn't just only the inflation issue and the devaluation of anyone's money but also the danger of being in a bankruptcy situation. They are businesses, and like any other business, they can do the same and "leave the building". We have lived this situation, and back then, the governments gave people money to save them. For me, it's much more preferable to have my "savings" in a wallet instead of putting them in their pockets. Their system is rotten to the bone...
Since the banks is usually licensed by the Central Bank of which ever country they are operating in, if the bank goes bankrupt, the central bank will sell off the assets of that bank to repay affected customers.
