Bitcoin's risk is not only inherent in it's price or it's value, one very good reason why people prefer to keep their assets in fiat is because they can't afford to be their own bank, and protect their assets all by themselves. Imo, the most feared risk people have is losing their funds, they have heard about scam exchanges, hacked wallets, malware and phishing links stealing coins and so much more, it is scary for newbies, they just want to put their money in the bank and allow the 'third party' to protect it for them.