Ricardo Salinas, third richest man in Mexico, says that Bitcoin is better than fiat money

A leading businessman and the third richest man in Mexico, Ricardo Benjamín Salinas Pliego said, “Bitcoin is better than fiat money” in an interview with Bitcoin Magazine.

In a recent interview, Pilego, a staunch supporter of Bitcoin, said that Bitcoin is always a better option than fiat money and the gold standard as it is unseizable and can be transferred instantly worldwide. Bitcoin’s peer-to-peer nature makes the digital currency much harder to be banned or controlled as transferring value through the network doesn’t involve an intermediary that could be subpoenaed by the government. He remarked, 

“The gold standard has always been subject to governmental intervention and fiat allows you to finance endlessly”

Bitcoin Is the Real Asset

In the interview, Pilego stated that Fiat is 100% seizable by the government and it is not in the government’s interest to make it easy for people to use bitcoin. He emphasized that people should try to learn more about the history of money and fiat currency as it will help them to comprehend the BTC value proposition in a much better way. Bitcoin is a superior form of money to fiat as it is harder to manipulate.

Pilego said that his companies were the first ones to accept Bitcoins in Mexico and will soon support transactions via Lightning Network, Bitcoin’s layer-2 scaling solution for cheaper and faster payments. The entrepreneur went on to add,

“Bitcoin is a better asset since it is easier to sell and can be transported and stored for free whereas Gold is hard to transport and hard to store.”

Fiat- Fake Money

The Mexican billionaire has been a long-term investor in Bitcoin and has advocated the usage of Bitcoin on several instances. For one, on December 16, Pilego announced in a tweet that his company, Grupo Elektra has become the first retail store in Mexico to accept payments in Bitcoin. Then again on June 27, he announced his plans to accept Bitcoin for his bank, Banco Azteca, becoming the first-ever bank in Mexico to accept bitcoin. Last year, Pilego had sent a new year message to his followers, urging them to steer clear of fiat currencies. He asked them to invest in cryptocurrencies such as Bitcoin. The message stated,

“Steer clear of fiat money. Whether it’s the Dollar, the Euro, or the Yen –it’s all the same. It’s fake money made of paper lies. Central banks are producing more than ever. Invest in Bitcoin!”