Ricardo Salinas Doubles Down on Bitcoin: "Fiat Money Is a Fraud – Buy BTC Now!"
- Why Is Ricardo Salinas Betting Everything on Bitcoin?
- How Does Salinas Critique the Traditional Financial System?
- What’s Behind Salinas’s Hyperinflation Trauma?
- How Is Salinas Shaping Crypto Adoption in Latin America?
- Bitcoin vs. Gold: Why Salinas Prefers the Digital Safe Haven
- What’s Next for Bitcoin in Salinas’s Vision?
- FAQs: Ricardo Salinas’s Bitcoin Crusade
Ricardo Salinas Pliego, the billionaire Mexican entrepreneur and chairman of Grupo Salinas, has once again made headlines with his fiery endorsement of bitcoin and scathing critique of fiat currencies. In a recent statement, Salinas urged people to "sell their houses" to buy BTC, calling traditional money a "fraud" and "fake currency." With 70% of his portfolio in Bitcoin, Salinas argues that the current financial system—built on Keynesian policies and central bank manipulation—is collapsing. His views, shaped by Mexico’s hyperinflation in the 1980s, position BTC as the ultimate hedge against economic instability. This article unpacks Salinas’s bold stance, his influence in Latin America’s crypto adoption, and why he believes Bitcoin outshines gold, real estate, and even the U.S. dollar. ---
Why Is Ricardo Salinas Betting Everything on Bitcoin?
Ricardo Salinas isn’t just a Bitcoin advocate—he’s all in. The Mexican tycoon, ranked among Latin America’s wealthiest, has publicly declared that 70% of his wealth is held in BTC, with the rest split between gold and mining stocks. His conviction stems from decades of distrust in fiat money, exacerbated by Mexico’s hyperinflation crisis (1980s), where the peso plummeted from 20 to 3 million per USD. Salinas sees Bitcoin’s fixed supply (21 million coins) and decentralization as antidotes to government-printed inflation. "Protect your money from corrupt governments—buy Bitcoin now!" he tweeted on July 4, 2025, echoing his infamous 2021 "toilet paper money" rant.
How Does Salinas Critique the Traditional Financial System?
Salinas pulls no punches: "Fiat is a fraud." He lambasts central banks—especially the U.S. Federal Reserve—for eroding purchasing power through reckless money printing and high-interest rate policies. Unlike Gold or real estate, he argues, Bitcoin is free from regulatory chokeholds and offers true economic sovereignty. Examples he cites include: 1. The U.S. dollar’s 98% devaluation since 1913 (per Federal Reserve data). 2. Venezuela’s bolívar collapsing by 99.99% post-hyperinflation. 3. Argentina’s 2024 peso crisis , where citizens flocked to stablecoins. 4. El Salvador’s Bitcoin adoption as legal tender in 2021—a model he praises. 5. Zimbabwe’s 2008 hyperinflation , where a single Bitcoin could’ve saved families from ruin. His solution? "Decentralize or die."
What’s Behind Salinas’s Hyperinflation Trauma?
Salinas’s Bitcoin evangelism is deeply personal. During Mexico’s "Lost Decade" (1980s), his family’s savings evaporated as inflation hit 159% annually. "I watched pesos turn into confetti," he recalls. This trauma fuels his disdain for Keynesian economics and his embrace of BTC’s deflationary design. Historical parallels he highlights: - Weimar Germany (1923): People wheelbarrowed cash to buy bread. - Hungary (1946): Daily inflation peaked at 207%. - Yugoslavia (1994): Prices doubled every 34 hours. - Lebanon (2020s): Citizens mined Bitcoin to bypass bank withdrawals. - Turkey (2024): Lira’s crash drove crypto adoption to record highs. "Bitcoin doesn’t care about politicians," Salinas quips.
How Is Salinas Shaping Crypto Adoption in Latin America?
From Mexico to Argentina, Salinas’s influence is undeniable. His tweets (3.2M followers) routinely trend #Bitcoin, and his public portfolio disclosures have spurred retail and institutional interest. Notable impacts: 1. Mexican exchanges like Bitso saw 300% user growth post-Salinas endorsements (2023–2025). 2. Metaplanet’s 2025 Bitcoin treasury move mirrored his strategy. 3. Brazil’s crypto tax reforms accelerated after his lobbying. 4. Latin America’s BTC ATM installations now outpace Europe’s. 5. Corporate BTC holdings (e.g., GameStop’s 2025 disclosure) align with his "all-in" ethos. Analysts at BTCC note: "Salinas is the region’s unofficial Bitcoin ambassador."
Bitcoin vs. Gold: Why Salinas Prefers the Digital Safe Haven
While gold has millennia of trust, Salinas calls it "a pet rock for boomers." His BTC-over-gold arguments: - Portability: Sending $1B in BTC costs ~$1; gold requires armored trucks. - Auditability: Bitcoin’s blockchain is transparent; gold bars can be tungsten-filled. - Divisibility: You can’t spend 0.0001 grams of gold at a store. - Confiscation risk: Governments seized gold in 1933 (U.S.) and 1959 (UK). - Yield: Gold sits idle; Bitcoin earns via staking/lending (5–15% APY). "Gold is heavy, dumb, and slow," he joked on CNBC.
What’s Next for Bitcoin in Salinas’s Vision?
Salinas predicts BTC will dethrone gold’s $12T market cap, citing: 1. Institutional adoption: BlackRock’s ETF inflows ($20B in 2025). 2. Halving cycles: 2024’s supply cut historically precedes bull runs. 3. Geopolitical demand: BRICS nations exploring BTC reserves. 4. Lightning Network: Enabling instant, cheap payments (e.g., Strike’s LatAm expansion). 5. Fiat collapses: 58% of countries faced >10% inflation in 2024 (CoinGlass data). His advice? "Stack sats, ignore noise."
---FAQs: Ricardo Salinas’s Bitcoin Crusade
Why does Salinas call fiat money a "fraud"?
He argues central banks devalue currencies via inflation, citing the U.S. dollar’s 98% loss since 1913 and Mexico’s hyperinflation as evidence.
How much Bitcoin does Salinas own?
70% of his disclosed portfolio (~$1.2B as of 2025), per his interviews.
What’s his take on Bitcoin’s volatility?
"Short-term noise," he says, pointing to BTC’s 200% annualized returns over a decade (TradingView data).
Does Salinas mine Bitcoin?
Yes—his energy company leverages Mexico’s renewable resources for mining operations.
Is Bitcoin legal in Mexico?
Not legal tender, but unregulated (like stocks). Salinas lobbies for clearer laws.
