Many times emergency funds are form of cash that are very liquid but they may well not be earning any interest or gaining value, so there could be some sense that those funds are neither working for you and that they might be losing value as fast as you can build them up, so in that sense, you might have quite a bit of hesitancy in holding very much value in cash and/or cash equivalents,
I was considering a possibility where we can store our emergency funds in other asset that could retain the value we put in it, since generally cash suffers from inflation and you know there are possibilities that our emergency funds would not be used in very long period of time
When you talk about storing your Emergency funds to other assets, if i may asked what other assets could be good to store our Emergency funds?, actually one thing you should also consider is that most assets has a very high inflation and if perhaps you store all your emergency funds for months and you decided to make use of it and realize that 10% has left from your emergency funds, what then will become your emergency funds?. So actually emergency funds shouldn't be regarded as something or funds that could yield profit but in other words is being established for a certain purpose, so storing it on assets is totally not advisable.