Savers raid bank accounts to buy Bitcoin, gold, and stocks, say experts

South Korean savers are emptying their bank accounts to buy Bitcoin, gold, and stocks, say financial experts. Savers in the country are withdrawing around $2.7 billion per day from instant-access savings accounts, while banks have seen deposits fall by over $18.6 billion since the start of the year, the South Korean financial newspaper Seoul Kyungjae reported. “The number of customers seeking to buy gold or Bitcoin [with their] savings has increased significantly compared to the past year or two,” said ...