Mexican billionaire advises to “stay away from cash”

Mexican billionaire Ricardo Salinas Pliego recommended investing in bitcoins. The entrepreneur, whose fortune is estimated at $13 billion, wrote about this on Twitter.

According to the businessman, investors should give up cash over time. Pliego is confident that central banks are now printing money “like never before.”

“Stay away from paper money. Whether it’s the dollar, the euro or the yen, it doesn’t matter. This is counterfeit money,” said Salinas.

And another famous billionaire — Ray Dalio — considers BTC “alternative money”. He believes that in the near future, fiat currencies will face quite serious competition.

“Bitcoin will be part of this competition. There will be a lot of different money, and not only cryptocurrencies, “- said the head of Bridgewater Associates during a podcast with Lex Friedman.

According to him, the likelihood that the first crypto-coin will someday cost about $1 million is extremely small. The entrepreneur believes that in this case, the capitalization of bitcoin would exceed the market value of gold by 2 times, which is incredible.

He explained that gold has long been an instrument of accumulation, and its movements are more problematic to track than transactions in the blockchain. Dalio also announced his desire to acquire NFT, which, according to his forecast, will play a role in the race of alternative assets.

“I definitely want to buy NFT. This area is already developing, it is real,” he said.

Earlier, the founder of Bridgewater Associates stated that using regular money is the worst investment, as it is “eaten up by inflation.” Dalio advised considering digital currencies “as an alternative to money in an environment where the value of money depreciates in real terms.”

“Cryptocurrencies may have no intrinsic value, but can be included in a diversified portfolio. I consider the cryptocurrency as a small part of it and I think that traditional money is becoming an increasingly problematic asset,” said the billionaire.

Which of the two entrepreneurs do you think is right? A bitcoin enthusiast or a crypto skeptic?

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