"Booklet D" at 3.5%: a trap for your savings compared to Bitcoin?

France’s National Assembly on October 30 voted a first version of the “Livret D,” a LIOT-group proposal for a tax-free 3.5% savings account that would let households lend directly to the state, roughly double the Livret A rate. With inflation at 3.4%, the real return would be close to zero, and savers’ money would be locked up for 10 years. The product is being framed as a test of whether ultra-safe state-backed savings can compete with bitcoin, which the article casts as the higher-risk alternative for long-term savers. What to watch next is the bill’s progress through the legislative process and whether the 3.5% rate and 10-year lock-up survive amendments.