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Forget Fiat, Buy Bitcoin Bitcoin Instead

Mexican billionaire Ricardo Salinas Pliego has at all times been a giant proponent of bitcoin. The billionaire has quite a few occasions advised buyers to put money into bitcoin over fiat given the potential of the previous and the way it can function an inflation hedge. He has as soon as once more overtly proven assist for the digital asset in a Christmas video the place he has suggested buyers to avoid fiat and make investments their cash in bitcoin.

Dishing Out Bitcoin Advice For The Holidays

In the video posted on his Twitter account with nearly 1 million followers, the billionaire gave out some vital life and investing recommendation. His message spanned from asking his followers to not give in to jealously and to at all times imagine in themselves once they pursue their freedom and innovation. He additionally gave some pertinent recommendation concerning investing in fiat.

Focusing on fiat cash typically, the profitable businessman provides his followers some vital bits of recommendation concerning investing in fiat. In brief, he requested them to not do it. He didn’t restrict his recommendation to a specific fiat forex, as an alternative, he says to remain away from all types of fiat currencies.

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“Steer clear of fiat money. Whether it’s the Dollar, the Euro, or the Yen –it’s all the same,” Salinas stated. “It’s fake money made of paper lies. Central banks are producing more than ever.”

Salinas then provides out a substitute for fiat; bitcoin. The billionaire suggested buyers to as an alternative purchase bitcoin as an alternative of fiat.

Bitcoin price chart from TradingView.com

BTC settles above $50K | Source: BTCUSD on TradingView.com

The Government Is Stealing Your Money

In one other tweet, the billionaire reiterates his stance on fiat cash. This time, evaluating the price of issues in 2020 versus 90 years in the past. This argument has been made a very good quantity in inflation debates and the way a lot shopping for energy has depreciated during the last century, and Salinas places this in perspective utilizing two footage evaluating the buying energy of $20 in two completely different centuries.

The tweet warned followers that inflation was a device for the federal government to maintain the plenty scared and managed, in addition to stealing their cash by way of taxes.

Related Reading | By The Numbers: Here’s How Much Bitcoin Michael Saylor Holds

“Central banks and governments use INFLATION to steal your purchasing power and keep you where they want to have you … scared, controlled, quiet and without freedom, they set your schedules, they put regulations on you and they keep your money through ‘taxes’.”

He indicators off the tweet with a bitcoin hashtag hinting on the digital asset as being the answer to this.

Salinas has at all times been a bitcoin bull since 2013 when he had bought his first bitcoin. In 2018, he referred to it as one in every of his best-performing investments and at one level stated he had 10% of his wealth within the cryptocurrency.

Elektra, a Mexican retail chain owned by Salinas, just lately turned the primary to just accept bitcoin funds in Mexico.

Featured picture from Cointribune, chart from TradingView.com

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