“For most people, their biggest investment, their savings, is the equity in their home. Find a way to transform that into some kind of exposure to bitcoin to a greater or lesser degree,” he said. “So you can bet that the house asset will appreciate, the house asset will appreciate, and the bitcoin asset will appreciate.”
Salinas points to the long-term appreciation of bitcoin relative to real estate as evidence of his opinion. In January 2016, the price of bitcoin was around $400. A house in central London sold for an average price of $1.6 million or 4,000 bitcoins. With home prices basically unchanged ten years later, that same purchase would require less than 30 bitcoins.
For Salinas, that comparison illustrates why he believes bitcoin outperforms traditional stores of value, like real estate, in the long run.
“It is an asymmetrical bet on the upside,” he said. “The more people know about Bitcoin, the more demand there will be.”
‘Fiduciary fraud’
Salinas, who has emerged as a potential presidential candidate in Mexico for the 2030 elections, traces his deep belief in fiat devaluation to a time long before digital currency existed. When then-President Richard Nixon cut off the direct convertibility of the US dollar into gold, ending the gold standard.
