Ricardo Salinas: a victim of hyperinflation turned bitcoiner

Ricardo Salinas: a victim of hyperinflation turned bitcoiner - salinasRicardo Salinas, the third richest man in Mexico, took the stage today at the Bitcoin Conference 2022 in Miami to tell part of his story. He explained how he lived theinflation firsthand. Although currently 60% of his holdings are in bitcoin, enough to protect him from hyperinflation. 

In fact, Salinas made it clear that he hopes to see the bitcoinized world and so he told the audience: "sell all your shitcoins and buy bitcoins". 

The owner of Banco Azteca of Mexico took advantage of his participation in one of the most important events in the cryptocurrency ecosystem to warn about what he calls "fiat fraud" and the devastation that the traditional financial system is leaving behind.  

All bitcoiners are heretics of the dollar religion

It's a situation he knows well, because the salary he was earning in 1980 dropped from $ 2.000 to $ 20 over a 6-year period. “This is hyperinflation and I have been a victim of it, which is why I have a huge grudge against fiat money,” she said during her speech. 

He recounted all the troubles he experienced when the Mexican government devalued the national currency and, as a result, his father's company went bankrupt because he took out a multi-million dollar loan. He sees this story repeating itself now in the United States, where "the numbers may change but the graph is the same". 

He warned that the dollar was devaluing outright due to measures taken by institutions charged with governing the economy. "What they are doing is printing money out of thin air and then issuing fake credit," she added. 

So, without further ado, he displayed an image of what he called the "high priests of the fiat religion." It included Agustín Carstens, head of the Bank for International Settlements (BIS); Christine Lagarde, president of the European Central Bank; and Janet Yellen, US Secretary of the Treasury.  

But their religion is not tolerant and they hate anyone who is a heretic. I see a lot of heretics in this room today and that's good, although you have to know what these people's next trick is going to be. They call it a very nice acronym CBDC which stands for Central Bank Digital Currency, which is even worse than the dollar because with it they will be in control of everything that people can spend or not. In addition, all your expenses, what you spend and how you spend it will be tracked 100%. They are quite devilish people 

Ricardo Salinas Pliego, during the Bitcoin 2022 Conference

Above all, Salinas invited attendees to take refuge in bitcoin, especially the elderly and those with less resources who are eager to make a living off their savings. He believes that, at some point, they could lose everything to inflation. 

"We can buy bitcoins and sell all the currencies we have today and that way we won't be afraid of the dollar scam, because this thing is literally useless and not good for toilet paper either," he said, pulling out a bill from one. dollar from his wallet. 

He confessed that he did not want to be so alarmist, but believes it is time to reflect on the inflation that can affect any country. "Unfortunately the United States has some curtains up," she commented, referring to the country that hides things under the dollar as a world reserve currency. "Bitcoin is the way to save your skin," she concluded.