Mexican billionaire Ricardo Salinas has renewed his call for people to adopt bitcoin as a safeguard against fiat currency inflation. In a recent video posted on X, Salinas characterized fiat inflation as a hidden tax and urged his followers to protect their savings through bitcoin ownership.
The core argument
Salinas, former chairman of retail company Grupo Elektra and founder of Banco Azteca, framed the issue around the disparity between labor and money creation. "When you work, you trade your time for money," he explained. "But when governments create money at will and dilute its value, they steal the time you sacrificed to earn it."
He highlighted what he views as bitcoin's fundamental advantage: "Bitcoin changes one fundamental rule: no one can print more just because they want to. While you have to work to earn more money, the system can simply create more of it."
Long-standing advocacy
This is not Salinas' first public statement on monetary policy. The entrepreneur, who posts regularly on X to millions of followers, has made criticism of central bank money creation a recurring theme across social media, interviews, conference keynotes, and video messages.
Salinas has escalated both his criticism of government monetary practices and his promotion of bitcoin in recent years. He previously described traditional fiat currency as "the fiat fraud" and characterized Federal Reserve actions as "printing money out of thin air."
Personal allocation
Earlier this year, Salinas disclosed that he had substantially increased his personal bitcoin allocation, raising it from 10% to 70% of his portfolio. He has also discussed his efforts to encourage bitcoin adoption among family members.
