Ricardo Salinas, the third-richest man in Mexico with a fortune exceeding $10 billion, doubled down on his Bitcoin advocacy on social media. Responding to a post describing inflation as a “hidden tax on fiat money,” Salinas wrote: “Buy Bitcoin and keep your money out of the hands of those who want to take it over.”
Bitcoin’s Fixed Supply vs. Fiat Inflation
Unlike government-issued currencies, Bitcoin has a capped supply of 21 million coins. While new coins are mined at a predictable schedule (halving every four years), the total quantity will never change. This makes Bitcoin resistant to the value dilution caused by central banks printing money to finance spending.
Salinas argues that this scarcity is exactly why Bitcoin serves as an effective hedge against inflation, especially in countries where currency devaluation is rampant.
Relevance in High-Inflation Economies
In Latin American nations such as Argentina and Venezuela, where annual inflation has exceeded 100%, Bitcoin is increasingly seen as a safe haven. Salinas’ repeated endorsement comes at a time when the Argentine peso and Nigerian naira have lost significant purchasing power. Last week, he urged followers to buy Bitcoin after noting that the Nigerian naira had fallen below one satoshi in value.
Growing Billionaire Consensus
Salinas joins a list of high-profile wealthy investors—like Michael Saylor and Elon Musk—who have publicly backed Bitcoin. However, his voice carries particular weight in emerging markets where citizens suffer directly from inflation. Salinas has previously stated he holds assets in Bitcoin and precious metals to protect his wealth.
Despite Bitcoin’s price volatility, Salinas advocates a long-term holding strategy. As global inflationary pressures persist, his latest comments are likely to further boost Bitcoin adoption in Latin America.