Fixed-rate savings interest typically runs higher than rates offered for standard savings accounts. When interest rates are high, capital is more expensive, and when interest rates are low, bank customers will not receive a satisfactory return. Without adequate return, banks lose purchasing power as other investment opportunities are sought. As inflation outpaces fixed-term rates, is bitcoin the solution?
Zero-interest rate policy and bitcoin
In a September 15, 2020, interview with Stansberry Research, Robert Kiyosaki, author of Rich Dad, Poor Dad, said gold, silver, and bitcoin are investments in disaster. According to the author, “If everything was perfect, you wouldn’t need gold, silver, and bitcoin. Zero-interest