A Bloomberg article argues that Americans outperform the safety of the dollar against more speculative assets such as stocks, gold, and bitcoin (BTC).

High savings rates and low incomes
Thanks to the COVID-19 lock, the cost of personal savings in the U.S. is historically high. However, the income provided by financial institutions in savings accounts is close to zero. Meanwhile, assets such as Bitcoin, stocks and gold have seen double-digit gains since March. This makes it an attractive option for investors.

The article refers to a 28-year-old California resident who told a reporter that he would transfer his $ 15,000 savings in an Ally Bank high-yield savings account to Bitcoins. He says he does this because he expects a prolonged recession.

July was the worst month for the dollar in ten years
Reality is worse than Bloomberg's article. It is no secret that the dollar is weakening rapidly against other major banknotes. In fact, according to the Financial Times, the dollar is actually the worst month in a decade.

With a new round of incentive controls nearby and most parts of the country still affected by COVID-19 restrictions, this problem is only likely to get worse. Americans are likely to have a weak Fiat short term and may try to convert their assets into higher returns. However, there is no such thing as a free lunch. In the investment world, high returns bring high risks.

Source: CoinTelegraph