• Mexico’s Third Richest Man Advises Buying Bitcoin Now — Says US Is Becoming More Like a Third-World Country

  • Ricardo Salinas Pliego, Mexico’s third-richest billionaire, has advised investors to “buy bitcoin right now.” He went on to say that the United States is “becoming more and more like any other irresponsible third-world country.”

    Ricardo Salinas Pliego on Bitcoin and the US Economy

    On Wednesday, Mexican billionaire Ricardo Salinas Pliego commented on the US economy and bitcoin. He is the founder and chairman of Grupo Salinas, a conglomerate of businesses involved in telecommunications, media, financial services, and retail stores. His net worth is currently $14.2 billion, according to Forbes’ list of billionaires.

    On Nov. 18, Salinas tweeted an updated weekly chart of the total value of the Federal Reserve’s assets (less eliminations from consolidation). It has a total asset value of more than $8.67 trillion. The billionaire posted on Twitter:

    The United States is beginning to resemble any other irresponsible third-world country…

    Wow…take a look at the scale of fake money production. Purchase bitcoin right now.

    For a long time, the Mexican billionaire has been a supporter of bitcoin. In November of last year, he revealed that bitcoin accounted for 10% of his liquid portfolio.

    He announced plans for his bank to accept bitcoin in June. “I recommend using bitcoin, and my bank and I are working to be the first bank in Mexico to accept bitcoin,” he said on Twitter.

    On the subject of bitcoin vs. gold, he advised investing in bitcoin. In June, he declared, “Bitcoin is the new gold,” adding that it is “much more portable.” He remarked that carrying bitcoin is “so much easier” than carrying gold bars in your pockets.

    In August, Mexico’s third-richest man tweeted:

    I believe bitcoin has a bright future and will change the world… but only time will tell.

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