Mexican Billionaire Ricardo Salinas Warns Fiat Money Collapse Imminent Advocates Bitcoin Gold

Mexican billionaire Ricardo Salinas has issued a stark warning about the global fiat money system, advising individuals to sell their homes and invest in Bitcoin and gold. He believes that fiat currencies are on the brink of collapse and that hard money is essential for protecting wealth.

In an interview on Robert Breedlove’s “What is Money?” podcast, Salinas argued that real estate, while suitable for living, is not a viable investment compared to Bitcoin. He emphasized Bitcoin’s scarcity and portability, stating that while more houses can be built, the supply of Bitcoin is fixed. Salinas suggested that homeowners consider taking long-term mortgages to free up capital for investing in Bitcoin.

Salinas, who chairs Grupo Salinas and is one of Latin America’s wealthiest Bitcoin holders, criticized fiat currency as a tool for governments to steal from citizens through inflation. He described central banking as an illusion that allows states to expand indefinitely. He compared the fiat system to a vampire that needs to be killed with a silver bullet.

Salinas’ warnings echo his earlier remarks to Kitco News in June, where he cautioned that current government monetary policies are leading global economies toward financial repression and stealth confiscation through inflation. He cited his personal experience living through Mexico’s hyperinflation in the 1980s, when the peso collapsed from 20 to 3,000 per dollar in just six years.

Salinas has consistently advocated for Bitcoin and gold as the only “hard money” escape routes left for savers. He believes that governments use inflation and digital currencies to confiscate wealth and control citizens. According to him, the sooner people embrace Bitcoin, the better off they will be, as it marks the beginning of a new era.

Salinas, who controls Banco Azteca and TV Azteca, has become a prominent Bitcoin advocate in Latin America. His new book, The Bitcoin Enlightenment, released this summer, delves into his belief that Bitcoin is not just a monetary innovation but also a moral counterweight to state overreach. He argues that Bitcoin and gold are essential for protecting wealth in an era of fiat currency collapse.