Bitcoin has garnered significant support from people all over the world. Mexico’s third-richest man Ricardo Salinas Pliego, who also happens to be the 166th richest person in the world, is the latest personality to have come forward to appreciate the cryptocurrency.
The founder and chairman of Grupo Salinas, made waves after he said that “fiat is fraud” and calling it “stinky”. In a recent interview, that was shared on Twitter by well-known investor and BTC proponent Anthony Pompliano, the billionaire was heard saying that the finite supply of Bitcoin, the 21 billion supply, is the key part.
“I have invested a lot of time studying [Bitcoin] and I think it’s an asset that should be part of every investor’s portfolio. It’s an asset that has enormous value, international value, that is traded with enormous liquidity at a global level and that is enough reason for it to be a part of every portfolio, period.”
Bitcoin Bull: “Fiat is stinky”
The Bitcoin bull was, however, not very confident about the second-largest cryptocurrency, Ethereum, and cast doubt on its potential due to the lack of a limit on the amount of ETH issued. He speculated that “they [could] emit more and the asset depreciates. Salinas also factored in the hyper-inflation over the last three decades that has ripped apart several country’s economies and added,
“Fiat is fraud. Look I started my career in 1981. The Mexican Pesos was 20:1 [USD]. Today, we are at 20,000:1. Don’t tell me. And that is in Mexico, but if we look at Venezuela, Argentina or Zimbabwe, the numbers lose all proportions.”
He went on to say that the US Dollar as hard money is a joke and that he wants to hold Bitcoin over the next 30 years.
Additionally, Salinas also said on Sunday that his banking business may start using Bitcoin. If this does come true, then it would become the country’s first bank to commence accepting the cryptocurrency.