Why savings have become more popular than dollars

The price of the cryptocurrency showed a strong upward trend since the beginning of the year. What other assets did the respondents value?

cryptocurrency He started the year on the right foot as during the month of January, he saw a huge price jump which revived the sector with red numbers post 2022.

especially, Bitcoin (B T c)The main digital currency of the ecosystem showed a growth of more than 75% during the first quarter of 2023.

For this reason, more and more people are turning to cryptocurrencies as a savings method to avoid losing purchasing power.

Bitcoin: why it has become a more popular savings method than the dollar

In fact, this has been revealed in a survey BTC will be one of the top three favorite assets to save Elected by US citizens. In particular, these are:

  • Sleep
  • Treasury bond
  • Bitcoin

According to Bloomberg’s Markets Live Pulse report, three assets are listed as favorites for Americans in case the US fails to raise its debt limit and defaults.

The survey was conducted between May 8 and 12, in which 630 respondents, which included professional and retail investors,

A survey shows that Americans prefer to take refuge in bitcoin over the dollar

A Survey Reveals Americans’ Preference To Shelter Their Savings In Bitcoin Over The Dollar

More than 50% were finance professionals Ready to buy gold if government defaults on loan repaymentWhile US Treasuries ranked second and finally, Bitcoin ranked third among retail investors.

The data showed a preference for bitcoin over some fiat currencies such as the US dollar, Japanese yen or Swiss franc.

from quantitative data, about 8% of professional investors and 11% of retailers commented that they are more inclined to buy bitcoin,

US Debt: The Big Concern?

With regard to the debt drawn by the United States, the Secretary of the Treasury, Janet Yellen, stated that “the government will be ‘forced to takeThe decision ‘if Congress doesn’t raise the federal debt ceiling.

President of america, Joe Biden, And Republicans are in a tussle to raise the borrowing limit US$31.4 billion.

If the country could not repay its debt, treasury market, $24 billion, And the global financial system would be subject to a potentially acute financial crisis.

Treasury Secretary Janet Yellen

United States Secretary of the Treasury Janet Yellen warned of the problems that would arise if the US defaulted on the debt.

In fact, a Bloomberg poll showed that more than 41% of those surveyed believe that a default represents a Direct threat to the dollar as the world’s main reserve currency,