No they don't.
"They" can take 50% from you without even knowing who the fuck you are by doubling the dollar supply on the ledger.. and does not matter which one you hold.. physical or digital.... similar with the gold manipulations in which some gold bag hodlers believe that there are significantly additional value to physical gold (beyond armagaeddon scenarios) in holding the actual cumbersome physical stuff...
Accordingly, our uncle sam or designee with merely push one lil button (or click the mouse) and wing-a-dingie-adee-ding, wam-a-dee-wee-woo-doodle.. and uie pooie end up having 50% less value than you had a few minutes earlier. Easy ma peasie...
Fair enough, I think I accounted for that under "inflation type BS" which is a known attack by governments. And yes it does work on physical dollars, that's why I have moved them into bitcoin.
If they want my bitcoin they can try to get the password out of me with a blowtorch and a truncheon, but they do have to do it in person. I myself appreciate the "personal touch" type of service over an anonymous lout in a bunker. :-)