One of Mexico’s wealthiest men and founder of the Grupo Salinas group of companies, Ricardo Salinas Pliego, told Bitcoin Magazine that the first cryptocurrency is a way to protect against inflation because the government cannot devalue it.
“Around the world, not only in Mexico or Latin America, we see a growing inflation tax, which amounts to taking people’s savings without their consent or knowledge, and this is very sad, especially for those whose pensions depend on it,” he said.
Salinas Pliego noted that for Bitcoin to achieve mass adoption in Mexico, people must understand that the government “deceives and robs” them.
“I think it would be useful for everyone to understand that currency devaluation is a very useful fraudulent trick to avoid higher taxes or debt,” the billionaire added.
He ETF after the approval of the first U.S. spot Bitcoin ETF. According to Salinas Pliego, the SEC Gary Gensler “has strong reasons not to approve” the instrument, and this is “a protection not of investors, but of a way to finance government spending without raising taxes”.
As of writing, the billionaire ranks 134th on the Bloomberg Billionaires Index. In November 2020, he said that he invested 10% of his funds in Bitcoin.
Earlier, in February 2022, Salinas Pliego said that Bitcoin surpasses fiat currency. In April, he said that 60% of his investment portfolio is allocated to digital gold.