" Mexican billionaire Ricardo Salinas is at it again. This time, the third richest man in Mexico told his followers that âfiat inflation is a hidden tax,â and the way to hedge against it was to buy bitcoin. Salinas, the former chairman of home appliance and electronics retailer Grupo Elektra and Banco Azteca founder, told his followers to opt out and start protecting their savings.
When you work, you trade your time (your life) for money. Fiat inflation is a hidden tax. com/1l8ZtoFCaA âBitcoin changes one fundamental rule: no one can print more just because they want to,â Salinas said in a video on X on Monday.
âWhile you have to work to earn more money, the system can simply create more of it. â Itâs not the first time Salinas has told his followers to be aware of government monetary policy. The billionaire posts on X almost daily to millions of followers, and criticizing central bank money creation is one of his recurring themes, appearing in tweets, interviews, conference keynotes, and video messages.
In recent years, the entrepreneur has stepped up his criticisms of governments â and his praises of bitcoin. Earlier this year admitted he had increased his allocation in the asset from 10% to 70% of his portfolio. Salinasâ bitcoin enthusiasm all stems from central bank monetary policy.
â âWhat they are doing is printing money out of thin air, and then making fake purchases,â he said of the Federal Reserve. The business magnate has also talked about his success in âorange pillingâ his friends and family. âI convinced my wife to mortgage the house that she has and take a loan to buy bitcoin,â he once boasted in an interview.
