Mexico’s richest man, Ricardo Salinas Pliego, says the US looks pretty irresponsible and like a third world country due to its mass printing policies, but BTC is here to solve the problem and urges followers to buy Bitcoin now. Let’s take a closer look at today’s bitcoin news.
Mexico’s richest man Ricardo Salinas Pliego continues to show his support for Bitcoin by asking his investors to allocate money for it and comparing BTC to gold because he prefers BTC.
Billionaire entrepreneur Ricardo Salinas Pliego is a longtime Bitcoin backer and admitted that he started investing in the best digital asset in 2016 when it was only $ 800. In June 2021, he argued that Bitcoin is a financial instrument of international value and traded with great liquidity and therefore every investor should own a piece of it. Shortly thereafter, he labeled all fiat assets a scam and said he would only hold BTC for the next 30 years if he had to choose.
Good ol ‘USA looks more and more like any other irresponsible third world country … wow … look at the extent of the counterfeiting.
purchase #Bitcoin immediately. https://t.co/xzv0xk2TQq pic.twitter.com/JMslqlagLE
– Ricardo Salinas Pliego (@RicardoBSalinas) November 24, 2021
The Mexican has doubled his support for BTC and is advising everyone to join the BTC ecosystem as soon as possible. He also criticized the United States and the Federal Reserve for printing “fake money”. It’s worth noting that the US Federal Reserve system has printed trillions of dollars to cushion the economic blow caused by the COVID-19 pandemic. Large amounts of cash in circulation and other controversial monetary policies have led to rising inflation rates around the world.
On the other hand, with 21 million BTC that ever existed, BTC is finite. As a result, most see this asset as an inflation hedge and a huge investment solution in times of currency crises. Salinas Pliego, known as the third richest person in Mexico, also backed the state, adding that Bitcoin was the new digital gold. Both assets have similar use cases, but crypto is superior because it’s easier than having gold in your pocket. Grupo Salinas is the parent company of Banco Azteca, a leading company in Mexico, and Pliego announced earlier this year its intention to offer further options to the bank’s customers.
However, the central bank, the National Banking and Securities Commission, and the Treasury Department reiterated that digital assets are not considered money under current law in Mexico.