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Mexico’s second richest man says Bitcoin is his “greatest funding ever”

Ricardo Salinas Pliego, chairman at conglomerate Grupo Salinas and Mexico’s second richest man, has revealed to Cointelegraph in an interview that he purchased his first Bitcoin in 2013, when it was value round $200. That, in response to the billionaire, was his “greatest funding ever”. 

After holding all of it the way in which till its 2017 highs, he bought all his positions at $17,000 and purchased it once more later at a less expensive value.

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

Now Salinas holds round 10% of his liquid portfolio in BTC and would not plan to promote any of it any time quickly. 

“I wish to sit round for an additional 5 or ten years”, he mentioned. 

Whereas initially attracted by Bitcoin as a method of change, Salinas is now satisfied that Bitcoin’s potential resides in its retailer of worth options. 

In accordance with Salinas, Bitcoin’s properties are significantly enticing in Latin American economies the place fiat foreign money is being debased and inflation is rampant. 

“What’s taking place in Venezuela, in Argentina the place fiat cash is collapsing has change into a scandal (…) It actually opens your eyes to the issue of fiat money”, he mentioned.

Salinas additionally factors out, Bitcoin is the pure results of the evolution of cash, from bodily to digital. 

“Bitcoin is bits and bytes within the ether, however the good factor is that it can’t be debased and it can’t be confiscated that simply”, identified Salinas.

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