Mexican billionaire Salinas: Don't be fooled by fiat, buy and hold bitcoin

[DigitalToday reporter Jinju Hong (홍진주)] Mexican billionaire Ricardo Salinas again highlighted bitcoin as a way to protect assets from inflation in fiat currencies.

Bitcoin Magazine reported on Tuesday that Salinas, in a video posted on X, described fiat inflation as a "hidden tax" and argued that people should buy and hold bitcoin to protect their savings.

Salinas previously served as chairman of home appliance and electronics retailer Grupo Elektra and is also known as the founder of Banco Azteca. In the video, he stressed the need to protect savings by moving away from the existing currency system. He said bitcoin changes one fundamental rule and cited as a key feature that it cannot be printed just because someone wants to.

He went on to criticise structural problems in the current fiat system. Salinas said people have to work to earn more money, but the monetary system can create additional new money. He said, "Don’t be fooled, learn, protect your savings, and defend your freedom," and added, "Buy and hold bitcoin."

Salinas has not been promoting bitcoin for the first time. On X, where he has millions of followers, he has continuously criticised government monetary policy and central bank issuance. Beyond tweets, he has kept up his criticism of fiat currencies and support for bitcoin through interviews, conference keynote speeches and video messages.