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

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1 min

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.

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