The core issue is not that people’s deposits are at risk from there being too little federal insurance or bailout money to go around, though the problem that there’s a natural limit to that important backstop is another argument for bitcoin. It’s the concentration of banking power that fearful depositors are now enabling by pulling their funds out of small regional banks and funneling them into a few behemoths: Citibank, JPMorgan Chase, Bank of America, Wells Fargo, et al.