People should avoid fiat currencies like the dollar and euro and instead invest in bitcoin, according to Mexico’s third-richest billionaire. He referred to fiat money as false money made of paper and lies,and said that central banks are producing more money than ever before.
Ricardo Salinas Pliego, Mexico’s third-richest billionaire, offered some advice in a video he uploaded on Twitter on Friday to wish his fans a nice Christmas season. Salinas is the founder and chairman of Grupo Salinas, a conglomerate with businesses in telecommunications, media, finance, and retail. His net worth is currently $13 billion, according to Forbes’ list of billionaires.
Over the last few years, Bitcoin has attracted a large number of supporters, with some billionaires and well-known investors urging consumers to buy the cryptocurrency. As a result of the lobbying, Bitcoin has been able to reach a wider audience and the adoption of the broader cryptocurrency industry has increased.
As part of his Christmas and New Year greeting, Ricardo Salinas Pliego offers advice to his 957,200 Twitter followers. He delivered three pieces of advice, one of which is about bitcoin and central banks.
“Stay away from fiat money, the billionaire advised. The concept is the same whether you use the dollar, the euro, the yen, or the peso. It’s fake money manufactured of lies and paper. Central banks are printing more money than they have in the past. Make a bitcoin investment.”
Salinas has been a long-term Bitcoin investor, so the message isn’t surprising. Since 2013, he has been a Bitcoin enthusiast, identifying himself as a Mexican businessman and Bitcoin user. Banco Azteca will be the first lender in Mexico to accept Bitcoin payments, according to Salinas. He stated that he purchased Bitcoin for $500 in 2013 and claimed it was the best investment he had ever made.
“Buy bitcoin right now,” the tycoon tweeted in November, claiming that the United States is “looking more and more like any other reckless third world country.” He also included a graph depicting “the extent of false money production,” as he put it.
He announced plans for his bank to buy Bitcoin in June. He tweeted, “I suggest using bitcoin, and my bank and I are aiming to be the first bank in Mexico to accept bitcoin.” “Bitcoin is the new gold,” he says, emphasizing that it is “far more portable.”
Salinas stated in December that his retail chain, Grupo Elektra, a renowned Latin American retailer, has begun accepting bitcoin.
Other wealthy entrepreneurs who advise buying bitcoin caution that it should be done with caution. To maintain a varied financial portfolio, Tim Diper, for example, advises against putting all of your savings in bitcoin.
Bitcoin reaches the top level of $51k
After trading below $50k in recent weeks, Bitcoin has been performing strongly in recent days. Bitcoin’s value has climbed by more than 2% in the last 24 hours, and it now trades above $51k.
Technical indications for Bitcoin show that the coin is recovering from recent lows. Although the MACD line is now under the neutral zone, it is progressively expanding and may eventually enter the positive zone if market momentum persists. Furthermore, the RSI of 52 indicates that Bitcoin is about to enter the overbought territory. BTC, on the other hand, remains below its 50-day moving average of $54,443.
If the current market momentum continues, BTC could burst beyond the $52k barrier in the coming hours. BTC might break through the second big resistance level at $54,207 if the market rallies for a long time.