Mexican Billionaire Ricardo Salinas Supports Bitcoin (BTC), Refuses To Invest In Ethereum


Ricardo Benjamin Salinas Pliego, a billionaire Mexican entrepreneur, founder, and chairman of the Salinas Group, a group of companies involved in telecommunications, media, financial services, and retail services recently noted that fiat currency is a scam. The business tycoon added that the limited supply of bitcoins was the key to its success.

Salinas states:

“Fiat fraud is inherent in the fiat system and we can see it today in the US. The dollar as the main money is a joke.”

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“I have invested a lot of time into studying bitcoin and I think it is an asset that should be a part of every investor’s portfolio. It is an asset of value, of international value, which is traded with enormous liquidity on a global level and that is reason enough to be part of any portfolio, period.”

Interestingly, Salinas focuses on the limited supply of BTC as a “key part” to the success of the major cryptocurrency. On the other hand, Salinas highlights the unlimited supply of ether (ETH) as a major obstacle to its success. Commenting on the infinite supply of ether, Salinas said:

“That’s why I said about ethereum, while they don’t have a limited supply, I don’t believe anything they do. As far as I know, they overspend and your assets are not being used anymore.”

Billionaires Join Bitcoin

Salinas is estimated to be worth more than $13 billion and as previously reported, the Mexican is speculated to own at least 10 percent of his liquid portfolio in BTC.

While there is no precise information regarding the exact amount of his total net worth related to bitcoin, Salinas’ endorsement for the mother of crypto is one of the most vocal to date by an influential billionaire.

In similar news, Media reported in May that Ray Dalio, founder of Bridgewater Associates LP has officially noted that he owns some bitcoins.

Furthermore, Kevin O’Leary, chairman of O’Leary Funds and executive producer of Shark Tank recently announced that although he has been using bitcoin for a long time, he also believes that decentralized finance (DeFi) has a big role to play in the cryptocurrency industry. .

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