Ricardo Salinas: Billionaire's voice in favor of Bitcoin
Date: 2024-06-03 Author: Henry Casey Categories: CRYPTO PAYMENTS
Mexican tycoon Ricardo Salinas called for the purchase of Bitcoin, emphasizing its importance as a protection against the devaluation of national currencies and as a way to preserve capital for the long term.
The owner of the Salinas Group, whose net worth is estimated at $14 billion, spoke out amid the Nigerian naira crisis, urging residents of the country to buy Bitcoin and hold it as long as possible, citing its potential for rapid growth compared to fiat currencies.
Bitcoin as a refuge from financial difficulties
The Nigerian naira is currently under pressure, which has forced the government to take steps to stabilize it and tighten controls on cryptocurrencies. The country's Securities and Exchange Commission (SEC) has proposed increasing registration fees by 400%, and the head of crypto exchange Binance's financial crimes unit remains in jail on tax evasion charges.
Recommendations for investors
Salinas also expressed confidence in Bitcoin, highlighting the importance of new instruments such as exchange-traded funds (ETFs) that provide exposure to cryptocurrencies for institutional investors.
At the beginning of the year, Salinas outlined the reasons why Bitcoin should be considered as an investment asset: its liquidity, the ability to diversify a portfolio and protection against inflation. The Mexican tycoon also previously called Bitcoin a means of protecting against “state robbery.”
