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Mexican Billionaire Says Bitcoin Is A Better Option Than Fiat Money

Bitcoin is a better option than fiat money, Mexico’s third richest man, Ricardo Salinas, said in an interview. Bitcoin, Salinas said, is elusive and can be instantly transferred worldwide, unlike fiat and the gold standard. “The gold standard has always been subject to government intervention,” Salinas said. “And with fiat you can finance endlessly.” Bitcoin’s peer-to-peer nature makes it much more difficult to ban or control the digital currency, as there is no middleman that can be sued by the government for transferring value over the network. This feature, combined with a supply cap of 21 million coins, allows bitcoin holders to hold on to long-term wealth in a more sovereign manner than is possible with fiat currencies or even gold. “Everything we have in fiat is 100% confiscated by the government,” Salinas added. “It’s not in the government’s interest to make it easy for people to use bitcoin.” Salinas is the founder and chairman from Grupo Salinas, a cohort of companies in the telecommunications, media, financial services and retail sectors, the first to accept bitcoin in our stores,” Salinas said, adding that his companies will soon add support for receiving transactions through the Lightning Network, Bitcoin’s layer-2 scaling solution for cheaper and faster payments, they are starting to learn about Bitcoin, Salinas said that gaining good fundamental knowledge about the history of money and fiat currency will help people understand BTC’s value proposition “There’s a lot of confusion about money in general,” said Salinas. “Ultimately, the bottom line is that people do really well when we work together and work together. cooperation necessarily means division of labor and specialization, and that must lead to trade.” The entrepreneur added that money came about as a means of improving the trade of goods between people because it provided a more liquid and ubiquitous form of value, much better than barter, the original way of doing business.Bitcoin, explains Salinas is a better money than fiat and gold because it brings additional qualities. “Gold is difficult to transport and difficult to store,” he said. “The gold price has been manipulated quite easily by central banks around the world. Bitcoin comes in as a new asset that’s harder to manipulate, it’s a better asset because it’s easier to sell and you can carry and store it basically for free. Bitcoin as a long-term investment, akin to a savings account.” earn in 30 days,” said Salinas.
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