Why the Third-Richest Man in Mexico Recommends Bitcoin
Ricardo Salinas Pliego, a Mexican billionaire, believes that investors should buy Bitcoin to protect themselves from the devaluation of fiat currencies.
The Case for Bitcoin
- Hedge against inflation: Bitcoin is seen as a way to protect wealth from rising prices.
- Store of value: Bitcoin is considered a safe haven asset, like gold, that can retain its value over time.
Nigeria’s Currency Devaluation
Salinas Pliego points to Nigeria as an example of how fiat currencies can lose value. The Nigerian naira is now worth less than one Bitcoin satoshi, the smallest unit of Bitcoin.
Bitcoin’s Appeal
- Protection against currency depreciation: Bitcoin can help investors protect their wealth from the devaluation of their local currencies.
- Global reach: Bitcoin is a global asset that can be traded anywhere in the world.
Other Bitcoin Advocates
Salinas Pliego is not the only one who believes in Bitcoin’s potential. Other prominent figures, such as Robert Kiyosaki and Cathie Woods, have also endorsed Bitcoin as a safe investment.
