Ricardo Salinas, billionaire and one of Mexico’s richest men has publicly praised Bitcoin.
In an interview re-posted by Anthony Pompliano he stated:
“I’ve 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 value, international value, that is trader with an enormous liquidity at a global level, and that is enough reason for it to be part of every portfolio”.
According to the Mexican billionaire, Bitcoin’s strength lies in its limited supply of 21 million BTC. In contrast, he says, Ethereum does not have a limited supply. For this reason, he argues, it could depreciate precisely because the more quantity that is put on the market, the more the price falls.
Ricardo Salinas then goes so far as to reject fiat currency, calling it a scam. In fact, he explains:
“The fraud fiat is inherent to the fiat system and we can see it today in the USA. The monetary emission went to the moon, you understand, the dollar as hard money is a joke”.
Ricardo Salinas, the billionaire hodler of Bitcoin
Finally, the interviewer asks which asset or good Ricardo Salinas would choose to keep in the future, for 30 years. His answer is emblematic of his thinking:
“No stick fiat nor for a reason. Not even a single peso, nothing! No paper bills. I would take bitcoin”.
The video was commented on by Michael Saylor, CEO of Microstrategy:
“If you are hoping to preserve your wealth for a generation, Ricardo Salinas suggests you invest in bitcoin. The strategy is simple – choose the highest quality asset you can find and hodl”.
These words in fact come at a time when the price of Bitcoin has fallen sharply from the all-time high of $65,000 set in April 2021. Nonetheless, BTC is maintaining its support of $30,000, a price far higher than it was a year ago.
Forecasts for the future remain optimistic due to a number of factors well embodied in Salinas’ words:
- the fact that BTC is increasingly accepted by institutional investors;
- the limited supply aimed at making Bitcoin an increasingly scarce commodity.
Bitcoin may ultimately become the ultimate safe-haven asset.