Crypto News

Mexico’s Wealthiest Person Ricardo Salinas: “Buy Bitcoin Now”


Mexico’s wealthiest person, Ricardo Salinas Pliego said that the US looks quite irresponsible and like a third world country because of its mass printing policies but BTC is here to solve the problem, urging his followers to buy Bitcoin now. Let’s take a closer look at today’s Bitcoin news.

Mexico’s wealthiest person Ricardo Salinas Pliego continued showing his support for Bitcoin by urging his investors to allocate money to it and compared BTC to gold giving his preference to BTC. The billionaire businessman Ricardo Salinas Pliego has been a long-time bitcoin advocate and admitted that he started investing in the leading digital asset in 2016 when it stood at only $800. In June 2021, he opined that bitcoin is a financial tool that has an international value and is traded with huge liquidity and that for that reason, each investor should own portions of it. Right after, he labeled all fiat assets as fraud and said that he will hold only BTC for the next 30 years if he had to choose.

The Mexican doubled down on his support for BTC and advised people to enter the BTC ecosystem as soon as possible. He also slammed the USA and the Federal Reserve for printing “fake money.” it is worth noting that the central banking system of the USA printed trillions of dollars to reduce the economic blow that the COVID-19 pandemic caused. The vast amount of cash in circulation with other controversial monetary policies led to increasing inflation rates around the world.

On the other hand, BTC is finite with  21 million BTC ever to exist. As such, most see the asset as a hedge against inflation and a huge investment solution during a monetary crisis. Salinas Pliego is known as the third richest man in Mexico also supports this statemetn and added that Bitcoin is the new digital gold. Both assets have similar use cases but the cryptocurrency is superior because it is easier than having gold in your pockets. Grupo Salinas is the parent company of Banco Azteca as one of the leading in Mexico and earlier this year, Pliego announced his intentions to provide other opportunities to clients of the bank.

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However, the Central Bank, the National Banking and Securities Commission as well as the Ministry of Finance, reiterated that digital assets are not considered money according to the current law in Mexico.

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