As Mexican billionaire Ricardo Salinas continues to explain bitcoin from the perspective of a private jet, the companion piece to Interview the Bitcoinist continues. what we started here, or, it could also be Here I am, This time, Salinas and journalists and podcasters Max Keizer and Stacy Herbert go even further down the bitcoin rabbit hole. From here, there is no turning back.
In this second part, Herbert gives full credit to Salinas as the man responsible for bringing bitcoin to Mexico. They also talk about the possibility that billionaires may be interested in the betterment of humanity. About Florence and the Medicis. Regarding the beauty of accounting, that, among other things, “enables citizens to hold the king accountable.” They also discuss the value of private and public companies and mention that economies affected by the current system are the first to adopt bitcoin.
That, plus even more bitcoin. Check it out:
Ricardo Salinas on the importance of a sound currency system
For the free market to do its job, the world has to live in peace. “War is the complete opposite of business,” Salinas said. “The vast wars were based on legal fraud,” Salinas alleged. “The monetary system is like the foundation of this civilization that you bring, which you build on top. If the foundation is wrong, the construction is going to collapse (…) That is why a sound money system is so important,” Salinas explained.
However, how do we reach the truth? Proper accounting techniques. “I am saying that accounting is very important to keep you honest and to be able to reach the truth,” he said, then going on to allege, “The current governments in Mexico and the US, they do not use accounting. They have it in an outflow (…) It’s disgusting.”
Then, Stacy Herbert lightens the mood. “Bitcoin is f*ck you money. I mean, the President of El Salvador just said in a recent tweet (…) and it is the new modern way of freedom for everyone on an individual level. Later Ricardo Salina’s son Hugo compared his visit to El Salvador with visiting Galt’s Gulch in Ayn Rand’s “Atlas Shrugged”.
“You don’t change bitcoin; bitcoin changes you,” said Stacy Herbert, giving full credit to Max Keizer for the classic phrase. How Bitcoin Changed Salinas’ Viewpoint? “It’s given me a lot more confidence in my ability to survive.” And, what about her son? “I think bitcoin is the biggest innovation ever and it fixes this corrupt system,” Hugo says.
BTC price chart for 05/06/2022 on Eightcap | Source: BTC/USD on TradingView.com
Michael Seller effect
Salinas described Microstrategy’s bitcoin policy and Michael Sayer’s daring bets as follows:
“…he has money, he borrowed money to buy bitcoin. He borrowed fiat currency to buy bitcoin. So, he’s short fiat, long-term bond rates were low. Which, by the way, me Seems like a great idea (…) Now, the other part is taking all the money and investing it in bitcoin (…) practically anything but this concentration of bets in a single asset to me. (…) If it pays off, and I think it will, he’ll blow it off the roof, but it’s a big risk.
Journalists question the billionaire about jealousy and Salinas replies, “Jealousy is a really bad emotion. It doesn’t do any good at all, and it affects you personally more than the other person.” With this, Stacey Herbert agrees and says, “You can only live your best life. You do and that’s it.” While showing that he is a true bitcoiner, Ricardo Salinas does not reveal how much bitcoin he has. “It’s not good policy to talk about how much you normally have. Second, it’s a security risk. Third, what’s the point?”
Ricardo Salinas Answers a Burning Question
Max Keizer brings the conversation back to Michelle Saylor, who he argues is launching a speculative attack on the US dollar with the microstrategy’s bitcoin play. Related to that, Keizer launches the most important question of the entire interview. “He also said that in his view in the future, bitcoin will be the world reserve asset, and the US dollar will remain the world reserve currency (…) How do you react to that?
Ricardo Salinas doesn’t disappoint, “I agree that (…) bitcoin is on its way to being a world reserve asset, I agree 100%. I’m not sure the dollar is going to make it (…) now. Specifically, that the US has weaponized the dollar to further its imperial objectives. Why would a self-respecting big country like Russia or China accept it as a reserve currency? Obviously it has a lot of drawbacks.”
Also, fiat money is slowly dying out and we can all see the signs around us. Is this happening? Tomorrow, in the final chapter of this series, Keizer raises another possibility and Ricardo Salinas answers. Don’t miss it.
Featured Image: Ricardo Salinas, screenshot from the video | Charts by TradingView