Monday, March 4

Mexican billionaire explains why he prefers Bitcoin: “Gold price is easily manipulated”

In conversation with Insight DeFi, the third richest man in Mexico, Ricardo Salinas Pliego explained the reasons that make him like Bitcoin. On the occasion, the billionaire used gold as a comparison to the world’s largest cryptocurrency.

Salinas’ love of Bitcoin is old, in 2020 he had already said that this was his best investment ever. More recently, its network of stores started accepting BTC as payment.

Furthermore, the billionaire has also returned to criticize fiat currencies, calling them “fake money” as governments continue to cause inflation by creating more money.

Bitcoin is better than gold, says billionaire

In an excerpt from his conversation with Insight DeFi, Ricardo Salinas begins by explaining the problems with gold, an asset that has always been the most used store of value in the world.

“The problem with gold is that it is difficult to transport and store it”

Going further, the billionaire claims to believe that the price of gold is easily manipulated by governments around the world.

It is also worth remembering that gold was used as money until, due to lack of liquidity due to printing to finance wars, governments ended the gold standard in 1971. So today fiat currencies like the dollar or real are even worse.

Returning to Salinas, the Mexican continues his thinking stating that the Bitcoin market is much more difficult for these governments to manipulate. After all, it is traded 24 hours, 7 days a week, on different exchanges.

“I believe that [o Bitcoin] is a better asset, you can buy and sell more easily. You can transport it and have no storage costs.”

Bitcoin is better than the dollar

If Salinas believes that Bitcoin is already better than gold, it is no surprise that he claims that cryptocurrency is better than fiat.

In November of last year, the billionaire even called the US a third world country due to the unstoppable introduction of dollars – or fake money, as he calls it – into the economy.

With that, Salinas took advantage of the conversation with Insight DeFi to once again criticize state monetary policies.

“We are working and promoting financial freedom, stay away from the counterfeit coins that governments print without scruples”

Finally, although the list of the richest people in the world is made up of older people, Ricardo Salinas Pliego is yet another billionaire who hasn’t stopped in time. Understanding that Bitcoin is a better form of money and store of value.

In addition, this new generation, born with the internet in full functionality, will be the ones that will take advantage of this new, and better, form of money.