Mexico’s third richest man recommends Bitcoin, his bank is working to accept BTC, says fiat money is a scam – Bitcoin News

Ricardo Salinas Pliego, Mexico’s third richest man and founder of Grupo Salinas, sees Bitcoin as an asset with extraordinary properties and describes the cryptocurrency as “gold for the modern world”. He recommends Bitcoin, believes fiat money is a scam, and the idea that the US dollar is a hard currency is a joke.

Mexico’s third richest man sees Bitcoin as an asset with “extraordinary properties”

Ricardo Salinas Pliego spoke about bitcoin and fiat money in an interview with José Rodríguez published last week. He stated that he views Bitcoin as a financial asset, so it doesn’t matter to him whether or not BTC is a currency. Precious metals are also not currencies, the billionaire emphasized: “You can’t go into a shop with a gold coin and buy a computer. You have to exchange the gold for fiat and then buy the computer. “

Citing a number of benefits including divisibility, easy transfer and easy storage with no counterparty risk, the billionaire said:

For me, Bitcoin is an asset with extraordinary properties … All the advantages that Bitcoin has make it gold for the modern world for me.

Salinas Pliego is also the owner of the Mexican Banco Azteca. His net worth is currently $ 15.8 billion, according to Forbes.

He also recommends having Bitcoin in investment portfolios. “Bitcoin is an asset of international value that is traded worldwide with enormous liquidity and should therefore not be missing in any portfolio,” he affirmed.

Salinas Pliego noted that scarcity is a major factor that makes Bitcoin so valuable and different from fiat money and unlimited supply of cryptocurrencies. However, the third richest man in Mexico believes that there are some useful cryptocurrencies, such as the privacy coins Monero (XMR) and Zcash (ZEC).

Drawing attention to how governments view Bitcoin and what he thinks of fiat money, Salinas Pliego described:

Governments don’t like Bitcoin … it burns them to get people out of their fiat trap because that’s fiat money, a scam … The scam fiat is inherent in the fiat system and we can see it in the US today … The Dollar as a hard currency is a joke.

He said that when he started his professional career in 1981, the exchange rate was 20 Mexican pesos to $ 1. “Today, on the other hand, we are at 20,000 [pesos] for $ 1… that’s here in Mexico, but if we do it in Venezuela, Argentina or Zimbabwe, the numbers lose all proportion, ”he said.

Speaking of risks, he said the government could ban Bitcoin, but he doesn’t think it would be the end of cryptocurrency, stating:

Governments, rulers, could decree that it is illegal … [but] I think it would continue to be used even if it were illegal, but a lot of people will be scared of it.

The billionaire was also hypothetically asked if he could travel 30 years into the future and take away any money, assets, or goods that he would choose.

He laughed and said that on his journey through time he would not be carrying “any stinking fiat money, no peso, no fiat paper” with him. He wouldn’t wear gold either because of his portability problem. “The problem with gold is where to keep it, which means that keeping gold bars is not an easy thing,” he noted, adding that this is why he chose Bitcoin. “In political, social, or financial turmoil, you have a better chance of running away with your bitcoins than you would with some gold bars, so I’d take the bitcoins with me,” he concluded.

On Sunday, the billionaire confirmed that 10% of his portfolio is in BTC, adding:

I recommend using Bitcoin, and I and my bank are working to be the first bank in Mexico to accept Bitcoin.

What do you think of Ricardo Salinas Pliego’s opinion on bitcoin and fiat money? Let us know in the comment section below.

Photo credits: Shutterstock, Pixabay, Wiki Commons

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