“Avoid fiat, buy bitcoin!” – This billionaire has a tip for you

BTC InfluencerHow to interpret investment advice from billionaires who recommend buying Bitcoin (BTC) ? This type of talk obviously has something to please bitcoiners, but a step back is always necessary to make informed decisions.

Bitcoin as a Christmas and end-of-year gift: billionaire’s words

Billionaire Salinas Pliego recommends to his more than 950,000 Twitter followers, to buy bitcoins and stay “away from fiat money”. Salinas is the third richest person in Mexico. He sent this pro-bitcoin message in a video on Christmas Eve 2021.

Salinas has been a strong bitcoin advocate since 2013. His Twitter bio describes him as a “ mexican businessman and bitcoin holder “. Salinas is not kind to all fiduciary currencies, devalued by excessive use of the printing press.

“Stay away from fiat money. Whether it’s the dollar, the euro or the yen, it’s all the same. It’s counterfeit money made out of deceptive paper. Central banks are producing more than ever”

Salinas Pliego

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Bitcoin vs. fiat currencies: the deflation versus inflation game

Salinas Pliego is besides not the only big fortune supporting bitcoin. Billionaire Ray Dallio also speaks highly of bitcoin in 2021, even as he fiercely criticized it in 2020. PayPal co-founder Peter Thiel said he wished he had bought more bitcoin .

These big fortunes backing bitcoin are they right ? After all, Warren Buffett refuses to invest in it. Bitcoin is increasingly seen as an inflation hedge asset. Central banks have proven in practice that they cannot control – totally ? – inflation.

Although the US Federal Reserve seems to have opened its eyes to inflation that indeed no longer seems transitory, and has taken steps to try to contain it, the measures taken – maybe late – seem against all odds, to have rather benefited bitcoin.

Has Bitcoin already won, are the billionaires necessarily right?

Investing in bitcoin would therefore necessarily be more advantageous and less risky than betting on fiat currencies? Despite the positive speeches of some billionaires on bitcoin, the answer is actually not that simple.

Bitcoin and cryptocurrencies in general are in the sights of regulators, legislators, governments, who wish to protect tooth and nail their fiat currency. Bitcoin may have “friends in high places” like US Senator Cynthia Lummis, but regulatory uncertainty actually continues to reign in cryptocurrencies.

The new regulatory frameworks that will emerge could either be favorable to the development of bitcoin and its cadets, or curb their adoption for a very long time.

The data shows a race to accumulate bitcoins for months. The pro-bitcoin speeches of billionaires, certainly applauded by the BTC community, will they allow the latter to grow?

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