UFC star Renato Moicano looks to Bitcoin as defense against 'tyrant state,' inflation
The Brazilian-born mixed martial artist looks to Bitcoin as government fails to "control" money supply, printing
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Mixed martial artist Renato Moicano explains his fascination with Austrian economics and shares his love for America on 'Making Money.'
UFC star Renato Moicano says he wants to get his bonus paid in bitcoin as he predicts a rise in interest rates.
"Bitcoin, even though it’s dropping a little bit, I think is [a] defense against the tyrant state, it’s a defense against inflation too, because eventually it’s going to go up because everybody’s knowing what Bitcoin is," Moicano explained on "Making Money," Wednesday.
The mixed martial artist argued that the government’s failure to "control" the supply of money and incessant printing of money will be "beneficial" for the cryptocurrency.
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"The dollar is losing value because the interest rates, because the government keeps printing money. Keep[s] doing your handouts, keep doing, like, welfare to the people," Moicano stressed.
Bitcoin represents "supply, demand and scarcity," a "huge part" of the Austrian School of Economics, he told host Charles Payne.
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Moicano, a proponent of the Austrian School of Economics, first discovered the theory when he joined the UFC.
"The government started to take my money. And then I started to realize I have to learn to understand [about] money because it’s not only about getting money. You have to pay taxes; you have to contribute. You have to understand what you’re doing," he explained.
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Moicano praised the Austrian economics school's principles, suggesting that they’re important "for a free market society, free market of ideas and free market of enterprise."
The Brazilian native argued that some Americans don’t understand how important it is to "love the empire of the laws."
"What made America successfully rich and prosperous was the free market society, free market of ideas and the accountability and the system of justice," he expressed.
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Moicano went on to add that people take America for granted.
"Be grateful to be born in America and be grateful for the empire of the law, that America has the justice system, and be grateful for the economic[s] that we have over here," Moicano stressed.