Cryptocurrency

Mexican billionaire Ricardo Salinas Pliego says U.S. dollar is a fraud

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Mexican business magnate Ricardo Salinas Pliego has criticized the fiat currency, especially the U.S. dollar, for being a fraud currency.

In an interview, the businessman said that when he started his career in 1981, the Mexican Peso was relatively strong with a valuation of 20 to $1. But today, he said, the Mexican Peso has plunged into 20,000 to $1 valuation. 

He also added that valuations in countries like Zimbabwe, Argentina, and Venezuela are much worse. 

A Bitcoin advocate

Pliego boldly called the U.S. dollar a “joke”, because its value has greatly diminished as a consequence of the U.S. government’s decision to overprint it. 

He then compared it to Bitcoin, which has a strictly fixed amount of $21 million, which is one of the main reasons why its value is preserved. Pliego also mentioned that he prefers Bitcoin to Ethereum. 

The magnate said that he had an in-depth study of Bitcoin and was convinced that it is a worthy investment that every investor should include in their portfolio. 

The major aspects that he likes about the dominant cryptocurrency are its international value and global level liquidity which makes it a good investment. 

Asked what would he pick if he could only choose one asset, the businessman turned down gold, silver, and the Peso currency, and chose Bitcoin as his preferred asset. 

More about the Mexican billionaire

Pliego is one of the wealthiest and powerful businessmen in Mexico. 

The billionaire owns some of the most profitable businesses in the country such as TV Azteca (Mexico’s top two TV networks), Banco Azteca, and Telcosmo (an internet service company). According to the Forbes website, his current net worth is $15.8 billion. 

 

Image courtesy of Cointelegraph News/YouTube

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