September 28, 2022

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Mexico’s next richest guy claims Bitcoin is his “best expense ever”

Ricardo Salinas Pliego, chairman at conglomerate Grupo Salinas and Mexico’s second richest gentleman, has disclosed to Cointelegraph in an interview that he acquired his 1st Bitcoin in 2013, when it was really worth close to $200. That, according to the billionaire, was his “best financial investment ever”. 

Right after holding it all the way until eventually its 2017 highs, he marketed all his positions at $17,000 and purchased it once more later on at a cheaper price tag.

“We often return to the scene of the crime”, he joked.

Now Salinas holds about 10% of his liquid portfolio in BTC and will not program to promote any of it any time quickly. 

“I want to sit around for a different five or ten several years”, he mentioned. 

While initially attracted by Bitcoin as a implies of trade, Salinas is now convinced that Bitcoin’s possible resides in its keep of benefit capabilities. 

According to Salinas, Bitcoin’s houses are specifically appealing in Latin American economies wherever fiat forex is currently being debased and inflation is rampant. 

“What’s going on in Venezuela, in Argentina the place fiat revenue is collapsing has come to be a scandal (…) It actually opens your eyes to the trouble of fiat cash”, he reported.

Salinas also factors out, Bitcoin is the organic final result of the evolution of cash, from actual physical to digital. 

“Bitcoin is bits and bytes in the ether, but the excellent thing is that it cannot be debased and it simply cannot be confiscated that easily”, pointed out Salinas.

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