Ricardo Salinas Pliego, Chairman of the Salinas Group and the third wealthiest individual in Mexico, has strongly endorsed Bitcoin, urging investors to acquire the leading cryptocurrency. The Mexican billionaire emphasizes Bitcoin's role as a hedge against fiat currency devaluation.

Global economies are increasingly recognizing Bitcoin's potential as a secure store of value during economic and financial crises. With a net worth of approximately $13.3 billion, Salinas Pliego has encouraged his 1.8 million followers on social media platform X (formerly Twitter) to invest in Bitcoin.

Highlighting the significant devaluation of fiat currencies like Nigeria's Naira, Salinas Pliego noted that one Naira is currently worth less than one Bitcoin Satoshi, valued at approximately $0.0002616. Given the current exchange rate of $1 to 1,480 Naira, this starkly illustrates the weakening value of the Nigerian currency against both Bitcoin and the US dollar.

On X, Salinas Pliego shared a screenshot displaying Bitcoin's value in Naira, which at the time exceeded 102.4 million Naira, nearly 50 times the average annual income in Nigeria. In response to Nigeria's fiat currency devaluation, he advised, "Buy Bitcoin and hold onto it, pay attention!"

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Nigeria, one of Africa's largest economies with a 2022 GDP of $477 billion, faces challenges including high inflation, unemployment, economic instability, and fiscal deficits. These factors have contributed to the depreciation of its fiat currency. By advocating Bitcoin investment, Salinas Pliego not only supports Nigerian citizens but suggests that individuals in countries experiencing currency devaluation should consider BTC as an investment.

With major global economies, including the United States, grappling with economic instability and high inflation, Bitcoin is increasingly seen as a hedge against currency devaluation. Many view Bitcoin as a safeguard against inflation, offering a secure option for protecting wealth from fiat currency depreciation. Financial experts such as Robert Kiyosaki, author of 'Rich Dad Poor Dad,' and Jan van Eck, CEO of VanEck, have endorsed Bitcoin as the ultimate digital store of value, alongside predictions from Ark Invest CEO Cathie Wood that Bitcoin will become a significant store of value amid regional banking challenges in the US.