Foreign media reports that Mexican billionaire Ricardo Salinas reiterated his bullish view on Bitcoin in an interview. He said he would continuously convert his fiat currency holdings into Bitcoin, believing that this asset is a better store of value than traditional currencies.
Fiat currency and Bitcoin
Salinas argues that fiat currency's circulation relies on social trust. He believes that the continuous expansion of the money supply by various countries is weakening the purchasing power of cash. In contrast, Bitcoin has a fixed total supply, can be transferred globally, and cannot be arbitrarily increased by central banks.
Not chasing the AI trend
He also stated that he would not buy into the so-called AI bubble. Salinas said that many current AI-related valuations do not align with his conservative investment preferences. Although some of his Bitcoin mining business benefits from AI demand, he prefers to hold Bitcoin directly.
Continuously convert cash into Bitcoin
Salinas stated that he converts any excess cash he receives into Bitcoin rather than trying to predict short-term highs and lows. He supports regular buying and believes Bitcoin has greater long-term growth potential than real estate.
Looking at $1 million
He did not provide a specific timeline, but made it clear that Bitcoin could eventually reach $1 million. Salinas believes that factors driving this outcome include increased adoption and the continued weakening of traditional currencies.
