Mexican billionaire Ricardo Salinas Pliego recently stated that Bitcoin is his best investment. Given the loss of value of paper money, he advises that investors diversify their investment wallets by assigning them to Bitcoin.
Ricardo Salinas Pliego is the president of Grupo Salinas and the second richest man in Mexico, according to Forbes. The billionaire executive recently stated that Bitcoin is his best investment. He mentioned that he bought his first bitcoin in 2013 when the cryptocurrency was worth around USD 200.
However, he said that he sold all of his positions for USD 17,000 and then bought them back at a cheaper price.
Salinas currently has about 10% of his wallet in Bitcoin and has no plans to sell anything in the short term. In this regard, he said that he wants to do holding: “I want to sit for another five or ten years.”
Ricardo Salinas Pliego’s Career
Ricardo Salinas’ fortune amounts to more than USD 11.8 billion, according to Forbes. The 65-year-old billionaire businessman was born on October 19th, 1955 in Monterrey, Mexico.
His company, Grupo Salinas, has businesses in industries such as media, telecommunications, finance, and retail.
The executive is also the president of TV Azteca, the second-largest producer of Spanish-language programming in the world and the second-largest media company in Mexico.
Curiously, Salinas gave away one million Mexican pesos (MXN), through 100 prizes of MXN 10,000 each, on Twitter. He transferred that money to the winners through the Banco Azteca App.
Ricardo Salinas is currently convinced that Bitcoin’s potential lies in its characteristics as a store of value.
He considers the properties of Bitcoin to be particularly attractive in Latin American economies. There are countries in the region whose fiat currencies are devaluing and inflation is rampant.
“What is happening in Venezuela and Argentina, where fiat money is collapsing, has turned into a scandal. That opens your eyes to the problem with fiat money,” said Salinas.
Reasons Why Ricardo Salinas Invests in Bitcoin
On his Twitter account, Ricardo Salinas warned investors that they should “protect [their] assets from inflation right now.” The reason for this is that “Bitcoin is the best candidate as a store of value.”
Salinas added that many people ask him whether he invests in Bitcoin. He replies that he does, “assigning 10% of [his] his wallet to this cryptocurrency.”
He said that he invests “in Bitcoin simply because [he wants] to protect [his] property.”
The Second Richest Man in Mexico Talks about Bitcoin on Twitter
Businessman Ricardo Salinas is using his Twitter account to encourage people to research the cryptocurrency.
The entrepreneur makes it evident in three tweets in which he mentioned that “paper money is worth nothing.” He added that “for that reason, it is always good to diversify our investment wallets.”
In the first tweet, he shared a video about some bags of cash that a banking institution was reportedly discarding.
“Watch the video and you will see why I invested in Bitcoin. In some countries, inflation is on the rise. Banks throw away their paper money as it has no value. For that reason, I think that you should diversify your wallet and assign it to Bitcoin. That’s a good strategy,” Salinas recommended.
In a second tweet, Salinas promotes the purchase of the book “The Bitcoin Standard: The Decentralized Alternative to Central Banking” by Dr. Saifedean Ammous.
In his third tweet, based on the cryptocurrency, he also recommended following a specific account in case of being interested in Bitcoin.
Finally, Ricardo Salinas Pliego said that Bitcoin is the natural result of the evolution of money, that is, from physical to digital form.
By Alexander Salazar