Mexican billionaire Ricardo Salinas Pliego, a vocal proponent of Bitcoin and a strong critic of traditional financial systems, has openly called fiat currency the “biggest fraud.” His controversial views, shared during an interview with Bitcoin maximalist Robert Breedlove, highlight a growing sentiment among some influential figures regarding the perceived instability and deceptive nature of conventional money. Salinas, who is a co-founder of Banco Azteca, one of Mexico's leading commercial banks, challenges the widely held belief that money deposited in banks is inherently safe, arguing instead that such funds are immediately lent out, leaving individuals in a precarious financial position.
Renowned Entrepreneur Ricardo Salinas Pliego Denounces Fiat Currency as Fraud, Champions Bitcoin for Economic Liberty
On September 20, 2025, during an insightful discussion with Bitcoin maximalist Robert Breedlove, Mexican business titan Ricardo Salinas Pliego articulated his profound skepticism regarding fiat currencies. Salinas, a key figure in the establishment of Banco Azteca, one of Mexico's most significant financial institutions, unequivocally branded fiat money as the “greatest deception” of our time. He passionately asserted that Bitcoin stands as the singular viable alternative for individuals seeking genuine financial emancipation. Salinas elaborated on his viewpoint by deconstructing the common misconception that funds stored in banks are secure. He explained that rather than being held in a vault, deposited money is promptly circulated as loans, primarily for purposes such as home purchases. This practice, he contended, traps people in a “matrix” of perpetual financial obligation, effectively making them “slaves” to governmental and banking systems. Salinas, whose personal fortune exceeds $5 billion, further revealed his substantial commitment to this philosophy, with approximately 80% of his wealth invested in Bitcoin, complemented by holdings in gold, and minimal exposure to conventional stocks. His journey with Bitcoin began when the cryptocurrency was valued at around $200, enduring its market fluctuations, and notably selling a portion of his assets when Bitcoin reached approximately $17,000, illustrating his strategic engagement with the digital asset. As of the time of this report, Bitcoin was trading at $117,209, marking a 0.46% increase over the past 24 hours.
Salinas Pliego’s assertions resonate deeply with those who advocate for decentralized financial systems and challenge the status quo of traditional banking. His strong endorsement of Bitcoin as a pathway to freedom from governmental control and financial manipulation offers a compelling perspective. It prompts individuals to critically re-evaluate the foundational principles of their financial security and consider alternative, more autonomous methods of wealth management. This stance not only ignites debate but also encourages a broader exploration into the potential of cryptocurrencies to reshape the global economic landscape.