Mexican billionaire called bitcoin the only alternative to the dollar
Ricardo Salinas Pliego believes that cryptocurrency should be bought in the face of inflation
11.04.2022 - 11:25
217
1 min
0
What’s new? Billionaire Ricardo Salinas Pliego stated that bitcoin could become the only alternative to the dollar. He shared his views on inflation, hyperinflation, bitcoin, and fiat currencies at the Bitcoin 2022 conference in Miami.
Ricardo Salinas Pliego’s speech
What did the billionaire say? He spoke about his own experience of living in Mexico in the face of inflation. The businessman also warned that the US, Japan, the UK, and the euroblock are following a similar inflationary path. The billionaire showed a graph of the US government’s total federal debt, which is projected to be $36,2 trillion in 2031. Salinas added that the Federal Reserve is making fake money out of thin air and loaning it out to create a purchasing power of $9 trillion of fake savings. He noted:
“The creation of fake credit which equals purchasing power has been astounding. The problem is because the dollar is the reserve currency of the world, can’t do anything about it. You can’t go out of the dollar — unless you go to bitcoin.”
What had happened before? In March, the billionaire visited El Salvador, which accepted BTC as legal tender, and visited a geothermal power plant to mine bitcoin. He called bitcoin the currency of freedom.
What is known about the businessman? Salinas is the founder and chairman of Grupo Salinas, a corporate conglomerate formed in 2001 by several Mexican companies. According to the Forbes list, he has a fortune of $12,7 billion.
Useful material?
Market
Tether Finance division will be responsible for the issuance and redemption of USDT stablecoins
Apr 18, 2024
Trends
The first project introduced on the platform will be BounceBit (BB)
Apr 18, 2024
Business
The rate exchange of the native ACH token reacted with a 10% increase
Apr 18, 2024
Market
Miners are hunting for the first block after halving as the value of the first satoshi could exceed $1 million
Apr 18, 2024
Market
The platform will be non-custodial and accessible to everyone
Apr 15, 2024
Market
China Asset Management, Harvest Global Investments, and Bosera Asset Management have received permits
Apr 15, 2024