{"id":86208,"date":"2023-10-25T19:48:54","date_gmt":"2023-10-25T16:48:54","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=86208"},"modified":"2025-09-13T04:05:35","modified_gmt":"2025-09-13T01:05:35","slug":"mexican-billionaire-calls-bitcoin-a-reliable-hedge-against-inflation","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/mexican-billionaire-calls-bitcoin-a-reliable-hedge-against-inflation\/","title":{"rendered":"Mexican billionaire calls Bitcoin a reliable hedge against inflation"},"content":{"rendered":"<p>One of Mexico&#8217;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.<\/p>\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"The Ricardo Salinas Interview: Mexican Billionaire Says Sell Bonds, Buy Bitcoin, Reject Inflation\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/8BtQb6dnoZA?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div>\n<\/figure>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>\u201cAround the world, not only in Mexico or Latin America, we see a growing inflation tax, which amounts to taking people&#8217;s savings without their consent or knowledge, and this is very sad, especially for those whose pensions depend on it,\u201d he said.<\/cite><\/p><\/blockquote>\n<p>Salinas Pliego noted that for Bitcoin to achieve mass adoption in Mexico, people must understand that the government \u201cdeceives and robs\u201d them.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>\u201cI think it would be useful for everyone to understand that currency devaluation is a very useful fraudulent trick to avoid higher taxes or debt,\u201d the billionaire added.<\/cite><\/p><\/blockquote>\n<p>He <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-cryptocurrency-etf\">ETF<\/a> after the approval of the first U.S. spot Bitcoin <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-cryptocurrency-etf\">ETF<\/a>. According to Salinas Pliego, the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> Gary Gensler \u201chas strong reasons not to approve\u201d the instrument, and this is \u201ca protection not of investors, but of a way to finance government spending without raising taxes\u201d.<\/p>\n<p>As of writing, the billionaire ranks 134th on the <a href=\"https:\/\/www.bloomberg.com\/billionaires\/profiles\/ricardo-b-salinas-pliego\/\">Bloomberg Billionaires Index<\/a>. In November 2020, he <a href=\"https:\/\/forklog.com\/en\/news\/mexican-billionaire-allocates-10-of-his-portfolio-to-bitcoin\">said<\/a> that he invested 10% of his funds in Bitcoin.<\/p>\n<p>Earlier, in February 2022, Salinas Pliego <a href=\"https:\/\/forklog.com\/en\/news\/mexican-billionaire-bitcoin-outperforms-fiat\">said<\/a> that Bitcoin surpasses fiat currency. In April, he <a href=\"https:\/\/forklog.com\/en\/news\/mexican-billionaire-ricardo-salinas-pliego-reveals-bitcoin-heavy-portfolio\">said<\/a> that 60% of his investment portfolio is allocated to digital gold.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>One of Mexico&#8217;s wealthiest men and founder of the Grupo Salinas conglomerate Ricardo Salinas Pliego told Bitcoin Magazine that the first cryptocurrency is a way to protect against inflation because the government cannot devalue it.<\/p>\n","protected":false},"author":1,"featured_media":86209,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1819,1138],"class_list":["post-86208","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-mexico","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/86208","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=86208"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/86208\/revisions"}],"predecessor-version":[{"id":86210,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/86208\/revisions\/86210"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/86209"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=86208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=86208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=86208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}