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Mexican billionaire: "Stay away from fiat money ... invest in Bitcoin"

 


Mexico's third richest person sent a New Year's message to the Bitcoin community on Christmas Eve.

One of Mexico's richest men, Ricardo Salinas Pliego, posted a Christmas video advising his nearly one million Twitter followers to buy Bitcoin.

In his message, he gives three pieces of advice before asking his followers to retweet and share:

“Stay away from fiat money. Whether it's the dollar, the euro, or the yen - it's all the same. It is counterfeit money made up of paper lies. The central banks are producing more than ever before. "

The latter, as pointed out by the entrepreneur, has caught the world's attention, particularly in the United States, where banknote printing has increased since the pandemic began. The increasing spending of dollars has resulted in the greatest inflation in the United States in 39 years.

Inflation is a measure that reflects the currency's loss of purchasing power and shows its depreciation against other, stronger currencies, as is the case in Latin American countries. This situation has encouraged the buying of cryptocurrencies to preserve the value of the savings.

In December 2020, he spoke about Bitcoin in an interview with Giovanni Pigni from Cointelegraph. The interview started with Salinas telling the story of how he first heard about Bitcoin:

“I was invited to a conference in New York ... There were several sessions, and one of the sessions this guy from Grayscale showed up. And he gave us a talk about Bitcoin and how it will conquer the world…. That immediately caught my attention. "

Later in the interview, Salinas said:

“I had a big party, very happy with my best investment ever, but we always return to the scene of the crime, don't we? When the price dropped to $ 10,000 I thought, 'Well, now it's more reasonable,' and I bought something at that point. and then it went down to $ 6,000, I bought a little more, and there I am, where our average is now at $ 9,000, and I'm not done yet. I will not sell it. I think I'll sit here another five or ten years. "

Other billionaire entrepreneurs who also recommend buying Bitcoin warn that one must be careful with this. Tim Diper, for example, advises against investing all of your savings in cryptocurrency in order to have a diversified investment portfolio.

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The content provided does not constitute investment advice or investment brokerage. The analyzes are also not to be understood as an invitation to trade, but only reflect the opinion of the author. All statements about cryptocurrencies and their possible price development are absolutely non-binding. In the event that users of the site trade based on the idea of ​​analyzes, this is entirely at their own risk.

 

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