disruptvestor on Nostr: FDIC has very limited use in times of widespread financial crisis. In dire cases, ...
FDIC has very limited use in times of widespread financial crisis. In dire cases, ultimately the Fed has to print money and socialize the losses of insolvent commercial banks. Monetary systems built on unbacked fiat currencies have inherent risks that cannot be ignored. #Bitcoin
quoting note1fjm…m8crFDIC can protect bank depositors only against some independent bank crisis and not systemic failures.
YTD 2024, FDIC's Deposit Insurance Fund can currently cover for only 1.17% of all protected deposits.
Whereas, self-custodied Bitcoin will protect 100% of your deposits.
