Cryptocurrencies
Bitcoin Billionaires Sound Alarm on U.S. Dollar Inflation
- Mexico’s Salinas puts 60% of money in Bitcoin, related equity
- Bravo says digital currency luring pensions, sovereign wealth
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Billionaires Ricardo B. Salinas and Orlando Bravo used an appearance at the Bitcoin 2022 conference in Miami to warn about the dangers of U.S. dollar inflation.
“I have a big grudge against fiat, I call it the fiat fraud,” Salinas, the owner of Mexico’s Banco Azteca, said Thursday. He recounted the story of how his salary as a young MBA graduate in Mexico in the 1980s declined from around $2,000 a month to just $20 over a period of six years, adding “that’s hyperinflation.”