One of Mexico’s richest persons and multi-billionaire, Ricardo Salinas Pliego, has long been known as bitcoin (BTC) bull. His support for bitcoin goes all the way back to 2016. At the time, he is said to have even invested in the cryptocurrency when the price of a bitcoin was just $800. Pliego late on Twitter know that his confidence in bitcoin is higher than ever and advises people to invest as soon as possible.
Ricardo Salinas Pliego
According to Sheet Bitcoin is a worthy alternative to the traditional financial system. He recently labeled all traditional currencies a fraud and indicated that he would be happy if he owned only bitcoin for the next 30 years.
Once again, Pliego lashes out at this traditional financial system. In particular, he criticizes current policies in the United States. According to him, the country is starting to look more and more like a developing country. In particular, the fact that the central bank of the United States continues to print seemingly infinite money is extremely irresponsible, says Pliego.
With the enormous amount of money being printed and released into circulation, inflation is shooting through the roof. Similar patterns can of course also be seen elsewhere in the world. The European Central Bank has also recently printed a huge amount of money.
Bitcoin against inflation
Unlike traditional currencies, Bitcoin has a hard limit when it comes to the number of bitcoins in circulation. There will never be more than 21 million bitcoins circulate. For that reason, many analysts and investors, including Ricardo Salinas Pliego, argue that bitcoin is an excellent way for investors to protect themselves against the ever-rising inflation.
His advice is therefore simple: ‘Buy bitcoin now.’ Pliego argues that bitcoin is the new digital gold. According to Pliego, the use-cases Bitcoin and gold are similar, but Bitcoin is superior because it is easier to trade.
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