River clients have earned a total of 40.64 BTC in interest on their cash balances.
This includes interest on cash reserved for Target Price Orders and hourly/daily recurring buys! 💸
Discussion
Why aren't the cash reserves bitcoin in the first place?
I utilize it when I have short term fiat bills I know are coming up. Or if I have a big expenditure in 2 weeks or whatever. Ill sit my fiat there to earn some bitcoin while I wait. I dont want to risk a change in value by having it in bitcoin short term like that. While yes bitcoin price could rip, its not worth the risk of the other side ifnprice falls and I have to sell bitcoin at a lower price just to cover my bills I had already covered 2 weeks before.
Oh I may have misread your question. Cash reserved is in fiat because its cash sat on a limit order or whateever, waiting to execute.
Because not everyone chooses to be 100% in bitcoin. Some people want to hold some cash reserves for personal reasons.
Others are waiting to buy the dip, and earn interest while they have a Target Price Order in.
Love seeing an email in my inbox this morning telling me how much BTC I earned in interest this month 😍
If you have to park fiat somewhere, I know no better place. Daily interest paid in Bitcoin at a higher rate than most trad fiat banks paying you in only in more dirty fiat.
Interest on target price orders is big.