Billionaire's Bold Bitcoin Bet: Escape Inflation, Salinas Says!
Mexican billionaire Ricardo Salinas, the third richest man in Mexico, has vehemently criticized fiat inflation as a "hidden tax" and urged his followers to buy Bitcoin. Citing its fixed supply, Salinas has significantly increased his own Bitcoin allocation to 70% of his portfolio, advocating it as a hedge against government money creation.
Mexican billionaire Ricardo Salinas, recognized as the third richest man in Mexico, has consistently voiced strong opinions against government monetary policies, particularly regarding fiat inflation. He actively communicates with his millions of followers, often through platforms like X (formerly Twitter), where criticizing central bank money creation has become a recurring theme in his posts, interviews, conference keynotes, and video messages.
Salinas recently emphasized his conviction that “fiat inflation is a hidden tax.” He argues that when individuals trade their time and effort for money, and governments subsequently create money at will, they dilute its value, effectively stealing the time sacrificed to earn it. To counter this, Salinas staunchly advocates for Bitcoin, urging his followers to protect their savings and defend their freedom by investing in the cryptocurrency.
His reasoning for championing Bitcoin is rooted in its fundamental characteristic: scarcity. In a video message, Salinas stated, “Bitcoin changes one fundamental rule: no one can print more just because they want to.” He contrasts this with traditional monetary systems where governments can create money arbitrarily, devaluing existing currency. This perspective forms the core of his advice to “learn, protect your savings, and defend your freedom, buy bitcoin and hold it.”
Salinas’s enthusiasm for Bitcoin is not merely theoretical; he has significantly invested in the asset himself. Earlier this year, he revealed a substantial increase in his Bitcoin allocation, moving from 10% to an impressive 70% of his entire portfolio. He openly criticizes what he terms “the fiat fraud,” a term he used at Bitcoin 2022 to describe traditional money. He specifically targets institutions like the Federal Reserve, accusing them of “printing money out of thin air, and then making fake purchases.”
Beyond his personal investment, Salinas has actively promoted Bitcoin adoption among his inner circle. He has openly boasted about his success in “orange pilling” friends and family, even recounting an instance where he convinced his wife to mortgage her house and take a loan to purchase Bitcoin. His consistent advocacy highlights his belief in Bitcoin as a crucial hedge against what he perceives as the deceptive practices of governmental monetary policies.