The third richest billionaire in Mexico Forbes He is a fan of Bitcoin. Ricardo Salinas Blego has surely done his duty, and he is here to make you see the light. Billionair recently announced He owns 10% of his wallet in Bitcoin. why? Salinas Pliego knows some of the reasons why BTC is the best money the world has ever seen.
The subtitled video arrives via podcast maker Anthony Pompliano, who says,Amazing to see this from RicardoBSalinas given his historical wealth and success.“
Here is a video of the third richest man in Mexico explaining why he thinks all fiat currencies are a scam and wants to hold bitcoin for the next 30 years.
– 🌪 pump (APompliano) 27 June 2021
If you can speak Spanish and have eight minutes to spare, original video From Jose Pimpo’s YouTube channel.
Related reading | The US-Mexico Wall Might Work Well for Bitcoin
The reason Bitcoin should be part of your wallet
According to Michael Saylor, you have to invest at least 100 hours into studying Bitcoin before you start getting it. His Mexican counterpart Salinas Pleigo was clearly set at the time. About bitcoin, he says:
“I have invested a lot of time studying it, and I believe it is an asset that should be part of every investor’s portfolio. It is a valuable asset, of international value, that is traded with tremendous liquidity globally. That is reason enough to be part of any portfolio period.” “
These are important reasons, but they are not something that cannot be said about the dollar. US currency has an international value and you can easily exchange it for local money in any market. However…
What do you think Salinas Bellego about paper currency?
Facts are facts, printing money and inflation reduces the purchasing power of all bearers. There are no two ways about it. Or, as Salinas Bligo puts it:
“Fiat is a scam. My career started in ’81. The peso was 20 x 1 (in US dollars). Today, we’re at 20,000 x 1. That’s all there is to know. And that’s right here in Mexico, because if we look at Venezuela, or Argentina, Or Zimbabwe, the numbers lose all proportions. Fiat fraud is something ingrained in the Fiat system, and we’re watching it happen in the US. The cash resurgence has gone to the moon, you understand. The dollar as hard money is a joke.”
It should be noted that in 1993, Mexico gradually phased out the peso (MXP) and introduced the nuevo peso (MXN),new weight.”) One MXN equals one thousand MXP. So, Salinas Bligo’s numbers are correct.
Note also the occasional reference to “He went to the moonIt’s me. This guy is clearly studying cryptography.
Why isn’t Ethereum a viable store of value?
Sorry, Vitalik lovers. Ethereum has many qualities, but being a store of value is not one. Salinas Bligo puts it in simple words:
“Bitcoin’s limited supply, 21 million, is key to everything. That’s what I’ve been saying about Ethereum. As long as they don’t have a finite supply, I don’t believe them at all. For all I know, they are issuing more and your assets are going down in value” .
And yes, when Proposal EIP 1559 In effect, Ethereum will burn some ETH after each transaction. However, the daily release will be much higher than the daily burn. And there will be no hard cover.
Related reading | Bitreserve adds Bitpeso and Bitrupee to support 8 currencies
Who is Ricardo Salinas Bellego, anyway?
To get a quick profile, we’ll pass the microphone to Forbes:
Ricardo Salinas Pliego runs Mexican television broadcaster runner-up, TV Azteca, and retailer Grupo Elektra.
His Grupo Elektra group targets lower-middle-class consumers who borrow money from his banking arm, Banco Azteca, to purchase items from Elektra stores.
Publicly traded Elektra was founded in the 1950s by Ricardo’s grandfather, Hugo Salinas Rocha.
Salinas appointed a new CEO for TV Azteca in January 2021, replacing his son, Benjamin Salinas Sada, whom he appointed in 2015.
Among the billionaires in the world, Salinas Pliego is currently ranked 166th according to the same magazine.
BTC price chart on Bittrex | Source: BTC/USD on TradingView.com