Bitcoin is an asset with significant market risk but basically no counter-party risk if held in self-custody on chain.
Bank deposits are unsecured loans used to speculate with leverage for privatized profit. If their bets fail we socialize the losses among all dollar holders. USD in a bank account has minimal market risk other than inflation but we are collectively learning the difficult lesson that they present significant counter-party risk for depositors.
Bank deposits are unsecured loans used to speculate with leverage for privatized profit. If their bets fail we socialize the losses among all dollar holders. USD in a bank account has minimal market risk other than inflation but we are collectively learning the difficult lesson that they present significant counter-party risk for depositors.