Ricardo Salinas Pliego is a Mexican billionaire who has long been an advocate for bitcoin. He has repeatedly advised investors that bitcoin is better than fiat due to its inflation-proofing potential. The billionaire has publicly supported bitcoin once again in a Christmas video in which he advised investors not to use fiat but instead invest their money into bitcoin.
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You can find the videoThe billionaire shared some valuable life and investment advice via his twitter account, which has almost one million followers. He asked his followers to resist jealousy and believe in themselves as they seek their freedom and innovating. His advice was also pertinent regarding the investment in fiat.
The successful businessman focuses on fiat money and gives some key tips to his clients about investing in fiat. He asked his followers to refrain from doing it. However, his suggestion was not limited to one fiat currency. He advises them to avoid all fiat currencies.
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“Steer clear of fiat money. Whether it’s the Dollar, the Euro, or the Yen –it’s all the same,” Salinas said. “It’s fake money made of paper lies. Central banks are producing more than ever.”
Salinas offers an alternative to fiat: bitcoin. Salinas advised investors to buy bitcoin rather than fiat.
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The Government is Stealing your Money
In another tweetThe billionaire reiterates the firm stance he holds on fiat currency. Here’s a comparison of the prices for things today and those in 1990. Inflation debates have been a frequent topic of discussion. This is because the buying power has declined over the past century. Salinas illustrates this by comparing two images that show the $20 purchasing power in different centuries.
Tweet warned that the government uses inflation to control the people and steal their cash through taxes.
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“Central banks and governments use INFLATION to steal your purchasing power and keep you where they want to have you … scared, controlled, quiet and without freedom, they set your schedules, they put regulations on you and they keep your money through ‘taxes’.”
The tweet is signed off with a Bitcoin hashtag, hinting that the digital asset could be the answer to all of this.
Salinas, who bought his first Bitcoin in 2013, has been a bitcoin investor all of his life. It was one of the best performing investments he made in 2018, and he once claimed that 10% of his wealth had been invested in it.
Salinas recently made Elektra the Mexican retail chain that accepts bitcoins.
Featured image taken from Cointribune. Chart by TradingView.com