Invest in Bitcoin, stay away from fiat, says Mexico’s Billionaire


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People should avoid fiat currencies like the dollar and euro and instead invest in Bitcoin, according to Mexico’s third-richest billionaire Ricardo Salinas Pliego. He referred to fiat money as “fake money made of lies and paper” and said that “central banks are producing more money than ever before.”

Pliego Suggests Bitcoin Investing and seemed against Fiat Money

Pliego offered some advice in a video he uploaded on Twitter on Friday to wish his fans a great Christmas season. Salinas is the founder and chairman of Grupo Salinas, a conglomerate with operations in telecommunications, media, finance, and retail. 

The $13 billion owners delivered three bits of advice, one of which is about bitcoin and central banks. According to the billionaire:

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“Stay away from fiat money. The dollar, the euro, the yen, or the peso — they are all the same story. It’s fake money made of paper and lies. The central banks are printing more money than ever before. Invest in bitcoin.”

Notably, Salinas had advised people to buy Bitcoin in November, citing that the United States seems more and more like a normal irresponsible third-world country. Before that, in June, he revealed that his bank was planning to accept BTC. He believes that Bitcoin is the new gold with high portability.

In December, Salinas revealed that his retail chain, Grupo Elektra, a leading retailer in Latin America, has begun taking bitcoin payments for the first time.

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Not only Pliego but many other Bitcoin proponents have also been vocal about Bitcoin over Gold recently. MicroStrategy CEO Michael Saylor recently advised investors to sell all $10 trillion of gold to buy Bitcoin.

On the other hand, many have been subtly criticizing the king coin. Goldman Sachs, which keeps confusing the crypto community with its unclear stance over crypto, said in November that Gold is becoming the poor man’s crypto.

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