Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
Following
BTC Mexican billionaire Ricardo Salinas Pliego warns that "hidden taxes" erode wealth and suggests allocating hard assets to withstand the economic crisis.
Mexican billionaire Ricardo Salinas Pliego recently issued a warning that a "hidden" tax is quietly eroding people's wealth and suggested purchasing hard assets to deal with potential economic crises.
In an article posted on social platform X on August 30, he wrote: "People exchange money by giving their time, and time is money. However, when the government prints money 'at will', it not only dilutes the value of the currency, but also steals the time people spend to earn the money."
Fiat inflation: A hidden tax
Salinas pointed out that "Fiat inflation is essentially a hidden tax." He further explained that governments facing debt crises often tend to print more fiat currency to fund their expenditures. However, the value of money lies in its purchasing power. Once the supply of fiat currency increases, the value of the currency will be diluted accordingly.
This impact caused by over-issuance of money affects the entire population, and everyone must bear the consequences of currency devaluation.
Why is Bitcoin the ideal safe-haven asset?
In response to this phenomenon, Salinas advises investors to buy and hold Bitcoin (BTC) to fight the "invisible tax" caused by currency devaluation. Strong supporters of Bitcoin like him have long argued that Bitcoin has the characteristics of resisting the devaluation of fiat currencies.
Unlike fiat coins that can be printed indefinitely, the total amount of Bitcoin is capped at 21 million. Therefore, against the background of the continuous issuance of fiat currencies, which has shrunk its value, Bitcoin's status as a high-value asset has become increasingly prominent.
Huge positions and million-dollar vision
It is reported that Salinas admitted that 70% of its liquid asset portfolio is allocated to Bitcoin. He also said that the price of Bitcoin is expected to reach US$1 million, but did not give a clear timetable.
As of writing, according to market data, the transaction price of Bitcoin was approximately US$78,692.
