Replying to Avatar Satosha

If you are rich ..and have more than 250 K ..

Would you keep in Chase or Wells Fargo?

Or keep your stash as #USDC ?

#askNostr

Asking cuz , as I understood, the money issued by banks is backed only ten percent by US dollars ..whereas #circle USDC is backed 100 percent by dollars ..

And more than 250 K are not FDIC insured ..
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JT 1y ago

If it's your only 250k I wouldn't ever put it all in any stablecoin. It can and has flash-crashed before.

Chase is highly preferred over Wells Fargo, but both suck logs of shit.

You will never withdraw 250k from a bank account.

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Satosha 1y ago

I was talking more from a company standpoint which has to make a biweekly payroll .. for personal use all my money is in assets .. never cash /// as of now I am 30 : 30 : 30 :: btc : gld : vti ... looking to increase my share of btc in due course ...