Mexican Billionaire Ricardo Salinas Urges Bitcoin Investment Amid Fiat Currency Collapse Warning

Mexican billionaire Ricardo Salinas has issued a stark warning about the fragility of the global fiat money system, urging individuals to sell their homes, invest in Bitcoin and gold, and prepare for what he describes as an inevitable collapse of traditional currencies.

Speaking on Robert Breedlove’s “What is Money?” podcast, Salinas, chairman of Grupo Salinas and one of Latin America’s wealthiest Bitcoin advocates, emphasized Bitcoin’s unique scarcity and portability as superior to real estate for wealth preservation. His remarks come as part of a broader critique of fiat currencies, which he argues enable governments to erode wealth through inflation. Salinas’ message, rooted in his experience with Mexico’s hyperinflation in the 1980s, positions Bitcoin as a critical tool for financial independence.

Salinas, who also spoke with Kitco News in June, has consistently criticized central banking and Keynesian economics, describing fiat money as a mechanism for state-sanctioned theft. He recounted Mexico’s economic turmoil, when the peso plummeted from 20 to 3,000 per dollar in just six years, as a formative influence on his distrust of fiat systems. His new book, The Bitcoin Enlightenment, released this summer, expands on his belief that Bitcoin represents not only a monetary revolution but also a moral stand against government overreach. By advocating for Bitcoin and gold as “hard money,” Salinas aims to empower individuals to protect their wealth from inflationary policies.

Bitcoin as a Shield Against Economic Control

Salinas argues that Bitcoin’s deflationary nature and decentralized structure make it a superior investment compared to traditional assets like real estate. He advised homeowners to consider selling their properties or taking long-term mortgages to free up capital for Bitcoin, noting that while homes serve a practical purpose for living, they pale in comparison to Bitcoin’s potential as a store of value. He emphasized that Bitcoin’s fixed supply, unlike houses, which can be built in greater numbers, ensures its long-term value. Salinas pointed out that over the past decade, house prices measured in Bitcoin have fallen by 99%, underscoring its dominance as an investment.

The billionaire framed Bitcoin as a defense against what he calls “double theft” by governments, where inflation acts as an invisible tax and technological advancements, which should lower prices, are instead appropriated to fuel state spending. He described Bitcoin as “incorruptible money” that empowers individuals through self-custody, allowing them to bypass traditional banking systems that loan out deposits. Salinas also highlighted Bitcoin’s role in fostering personal responsibility, as users must learn to secure their assets, contrasting this with the passive trust required in fiat-based systems.

Salinas’ advocacy extends beyond financial strategy to a broader vision of freedom. He views Bitcoin as a tool to liberate individuals from government control, aligning with his libertarian principles. He referenced a clip from economist Friedrich Hayek, who envisioned a currency independent of state influence, and sees Bitcoin as the fulfillment of that idea. By adopting Bitcoin, Salinas believes people can break free from the “rat race” of fiat-driven economies, where inflation and debt perpetuate dependence on bloated governments.

His personal journey with Bitcoin began in 2013, when he purchased his first coins at $400, initially by chance at a conference. Since then, Salinas has become one of Latin America’s most vocal proponents, using his platform as head of Banco Azteca and TV Azteca to promote Bitcoin’s potential. He likens the process of understanding Bitcoin to “orange pilling,” a term inspired by 1999 movie The Matrix, where individuals awaken to the realities of economic control and embrace financial sovereignty.

Salinas’ warnings resonate in a global context where inflationary pressures and government debt continue to spark debate about the sustainability of fiat currencies. His call to action, sell homes, buy Bitcoin, and secure wealth in hard money, reflects a growing sentiment among crypto advocates who see digital assets as a hedge against economic instability. As governments explore digital currencies and tighten monetary policies, Salinas’ message underscores Bitcoin’s role as a decentralized alternative, offering individuals a path to financial autonomy in an uncertain world.