Mexican billionaire Ricardo Salinas Pliego has advised investors to put their money into bitcoin. Salinas who is the third richest man in Mexico advised this due to the rate at which the Fed is printing dollars. Inflation rates have soared in the past year and are expected to continue doing so. The billionaire advises putting money into bitcoin to combat the rate at which fiat money is being issued.
Billionaire Says Buy Bitcoin
Pliego has grown increasingly critical of the rate at which the Fed has been printing money. The billionaire had posted a picture that showed the total weekly value of the Federal Reserve’s assets. The chart was updated to November 18th and showed that the Fed held a total of more than $8.67 trillion dollars. This did not sit right with Salinas, who criticized the United States for being like an irresponsible third-world country.
Pliego advised investors to put their money into bitcoin to be safe. The billionaire has always been bullish on the asset and holds a personal position in bitcoin himself. Pliego holds 10% of his wealth in bitcoin and believes that every portfolio should have bitcoin in it.