Salinas Pliego says that Bitcoin should be in any portfolio. For the entrepreneur, the limitations that bitcoin is currently facing in its issuance is one of its most attractive features.
The founder of Grupo Salinas expressed these views in an interview he had with the director of Blockchain Land, José Rodríguez. of all the advantages that bitcoin has, the most attractive one is that it would be the gold for the modern world. The statement went public on the latter’s YouTube channel.
Salinas Pliego emphasizes many good considerations of bitcoin (BTC) as a financial asset and explains that it is not important for him whether it is a currency or not. He sees bitcoin as an asset that has extraordinary features. Among these features, he mentioned the divisibility, ease of transfer, and the simplicity of its storage without counterparty risk.
Comparing bitcoin to gold leads Mexico’s third-richest man to comment that even the precious metal is not a currency. He said people cannot simply go to a store with a gold coin and purchase a random item, first, the purchaser must exchange the gold for fiat and then buy the item.
Bitcoin is an asset that has international value, that meets trades with large liquidity worldwide and that, therefore, should be in any portfolio, this is what this 65-year-old accountant who has a master’s degree in business and has been awarded an honorary doctorate from the University of Guadalajara says regarding the cryptocurrency.
The Scarcity of Bitcoin increases its Value
Salinas Pliego believes that one of the most relevant factors that make bitcoin’s value increase so much is its scarcity. The issuance of BTC will never surpass 21 million units, of which a little more than 18 million are already in circulation.
In this way, the cryptocurrency devised by Satoshi Nakamoto differs from fiat money, and the currency issued by the United States of America, whose circulation remains unlimited. The inorganic issuance of money is one of the main causes of the devaluation of national currencies.
BTC is slightly different due to its limited issuance in comparison with other crypto assets, for example, ether (ETH), Ethereum’s native cryptocurrency. There is no actual agreement on how many Ethers are in circulation.
This event is not to the liking of Salinas Pliego who, during the interview, said that as long as Ethereum does not show a finite amount of emission, he does not believe anything, because there can be more emission and the asset depreciates.
Salinas Pliego’s Stance about Other Cryptocurrencies
The Mexican billionaire is not a bitcoin maximalist but firmly believes that other cryptocurrencies can be very helpful. It specifically mentions monero (XMR), and Zcash (ZEC), which are developed to bring greater privacy to their users.
Salinas Pliego considers privacy to be one of the weak points of bitcoin. He says that if he sends 1 BTC from his portfolio, the other user should already know about the portfolio that is sending the BTC.
He also added that users will be able to see how much the ones involved in the trade have, which is not at all private and is a very nice way to close a deal.
By: Jenson Nuñez
