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Ricardo Salinas urges followers to hedge fiat inflation with bitcoin
The Mexican billionaire, a former Grupo Elektra and Banco Azteca founder, said bitcoin is a hedge because it cannot be printed by governments on demand.
Bitcoin Magazine reports that Mexican billionaire Ricardo Salinas told followers that fiat inflation acts like a hidden tax and urged them to protect their savings by buying bitcoin.
Salinas said in an X video posted on Monday that bitcoin changes a key monetary rule, because no one can print more simply because they want to, while governments can create money and dilute its value.
The outlet notes that Salinas has repeatedly criticized central bank money creation across social posts, interviews, and speaking appearances, and that his bitcoin focus has intensified in recent years.
Bitcoin Magazine adds that earlier in the year Salinas said he increased his bitcoin allocation from 10% to 70% of his portfolio, and that he previously discussed the topic at Bitcoin 2022.
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