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Bloomberg: Americans Trade Depreciating Dollars For Bitcoin

imageCryptocurrency12 hours ago (Jul 31, 2020 06:20PM ET)

Bloomberg: Americans Trade Depreciating Dollars For Bitcoin

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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Bloomberg: Americans Trade Depreciating Dollars For Bitcoin

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