Mexico’s Second Richest Man Reveals his Bitcoin HODLing Plan
December 28, 2020
Ricardo Salinas Pliego calls BTC his “greatest funding ever” which he first purchased seven years again.
Ricardo Salinas Pliego, the chairman at conglomerate Grupo Salinas has been a Bitcoiner lengthy earlier than he invested 10% of his liquid property into the world’s largest digital asset final month.
Mexico’s second richest man just lately revealed in an interview that he first purchased Bitcoin in 2013 when the digital asset was value nearly $200.
Nonetheless he bought all his BTC in the course of the 2017 bull run at about $17,000 however he purchased some once more at a less expensive value as a result of as he quipped, in any case, “We all the time return to the scene of the crime.”
The billionaire calls Bitcoin his “greatest funding ever.”
As for the most recent 10% of his liquid portfolio funding in Bitcoin, he doesn’t plan on promoting anytime quickly, at the least not “for one more 5 or ten years.”
This is sensible provided that already Bitcoin has damaged a brand new all-time excessive at $28,200 and we’re simply in the beginning of this cycle and establishments have simply began to catch on. With many anticipating $100ok and $400ok as the highest of their cycle, and a few even predicting $1 million per BTC sooner or later, HODLing is the perfect coverage for a Bitcoiner.
In keeping with Salinas, Bitcoin’s potential is in its function as a retailer of worth, in contrast to as a way of alternate which initially bought him drawn to the crypto asset. Now that central banks all around the world are printing cash and debasing fiat currencies, Bitcoin is rising as a hedge in opposition to inflation. He mentioned,
“What’s occurring in Venezuela, in Argentina the place fiat cash is collapsing has turn out to be a scandal (…) It actually opens your eyes to the issue of fiat money.”
“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,” Salinas added.
Quantity 49.93 b
Circulating 18.58 m
Market Cap 496 b
AnTy has been concerned within the crypto area full-time for over two years now. Earlier than her blockchain beginnings, she labored with the NGO, Physician With out Borders as a fundraiser and since then exploring, studying, and creating for various trade segments.