Billionaire calls fiat a scam and chooses bitcoin as the best investment

Billionaire Ricardo Salinas Pliego, according to Forbes one of the three richest people in Mexico, said that when choosing an asset for the next 30 years «under no circumstances would I choose smelly fiat», preferring bitcoin instead.

“Fiat is a scam, ” Pliego said.

Look: I started my career in 1981. The Mexican peso was then quoted against the dollar at a rate of 20 to 1. Now the rate is 20,000 to 1. And this is only in Mexico. But look at Venezuela, Argentina or Zimbabwe. The numbers have grown so much that this has led to a violation of all proportions. Therefore, no pesos, no paper money! «

The third wealthiest Mexican resident, Ricardo Salinas Pliego, said that he studies bitcoin and compares it to all other assets. The businessman, whose capital exceeds $ 13 billion, believes that Bitcoin has unrivaled characteristics that will ensure its future success as a store of value.

Pliego explained that limiting the supply of Bitcoin to 21 million is key . The billionaire noted that the inability to issue additional coins is not reflected in coins like Ethereum.

In addition to the limited supply, he praised Bitcoin for being of international value and trading with massive global liquidity. This is enough to represent it in the portfolio of every investor.

“It is an asset that has value, international value and is traded with incredible liquidity globally. That’s enough for him to be part of every portfolio, period, ” he added.

Pliego then revealed that in Zimbabwe, the country is desperate to use its currency and has even imposed fines on individuals and companies that do not accept the imposed Zimbabwean dollar (ZWL). For almost 10 years, the country did not use the currency after its collapse against the dollar.

In his opinion, fiat currency is a product of a broken financial system, and cracks are already showing in the United States. The money issue has reached the moon, so it’s a joke to think of the dollar as hard money.

When the billionaire was asked what assets he would focus on in the next 30 years – fiat, silver, gold and bitcoins – he chose digital currency.

In recent months, there has been an increased interest in bitcoin from South America. After El Salvador, Paraguay is planning to introduce bitcoin as a legal tender, and Mexico may be next.

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