Mexican Billionaire Ricardo Salinas Pliego Advocates Bitcoin as Inflation Hedge and Exposes Government Machinations

Mexican billionaire and founder of Grupo Salinas, Ricardo Salinas Pliego, emphasized the importance of Bitcoin as a hedge against inflation in a recent interview with Bitcoin Magazine. Worldwide, including Mexico and Latin America, the growing phenomenon of inflation is becoming increasingly apparent, which he likened to a tax equivalent to seizing citizens' savings without their consent and notification. This poses a particular threat to those who depend on their accumulated funds, such as retirees.

Salinas Pliego stressed that for the mass adoption of Bitcoin in Mexico, citizens must realize that the government is, in reality, deceiving them and acting as a thief. In his opinion, the devaluation of the national currency is a cunning way to evade taxes and debt obligations.

Salinas Pliego also expressed optimism about the potential growth in the price of Bitcoin following the approval of the first-ever Bitcoin spot ETF in the United States. He expressed doubts about whether the Chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, would approve this instrument. In his view, this is not about protecting the interests of investors but rather an attempt by the government to fund its expenses without raising taxes.

Salinas Pliego believes that Bitcoin is an important asset for diversifying investment portfolios, and he personally invested 10% of his assets in this cryptocurrency. This move may reflect the increasing interest in digital assets among major investors.

This is not the first time that Ricardo Salinas Pliego has voiced his support for Bitcoin. In February 2022, he claimed the superiority of Bitcoin over traditional currencies. He also revealed that approximately 60% of his investment portfolio consists of digital assets.