Ricardo Salinas Pliego, the second-wealthiest man in Mexico, has revealed that 10% of his “liquid portfolio” is invested in Bitcoin (BTC).
The billionaire shared a video captured in “a Latin nation” depicting banks throwing out rubbish luggage full of paper cash right into a dumpster. He asserted that “paper cash is value nothing,” including: “That’s the reason it’s at all times good to diversify our funding portfolio.”
The video seems to point out luggage of Venezuelan bolivars being thrown out, together with 10,000 bolivar notes issued in 2016 and 2017 — earlier than the nation redenominated its banknotes in 2018 amid an escalating inflation disaster.
Three hours later, Pliego then tweeted a suggestion for the e-book The Bitcoin Sample, asserting that “Bitcoin protects the citizen from authorities expropriation” and revealing his cryptocurrency funding:
Hoy les recomiendo EL PATRÓN BITCOIN, este libro es el mejor y más importante para entender #Bitcoin.
El Bitcoin protege al ciudadano de la expropiación gubernamental.
Muchas personas me preguntan si tengo bitcoins, SÍ. Tengo el 10% de mi portafolio líquido invertido en el pic.twitter.com/6LtFVCXvuA
— Ricardo Salinas Pliego (@RicardoBSalinas) November 17, 2020
In keeping with a translation supplied by Google, the tweet acknowledged:
“At present I like to recommend THE BITCOIN PATTERN, this e-book is one of the best and most vital to know #Bitcoin. Bitcoin protects the citizen from authorities expropriation. Many individuals ask me if I’ve bitcoins, YES. I’ve 10% of my liquid portfolio invested.”
Crypto Twitter reacted gleefully to the information that the world 166th-wealthiest citizen is considerably invested in Bitcoin, with Kraken’s Dan Held proclaiming that, “The institutional herd is stampeding.”
Pliego responded to Held, saying that institutional adoption had manifested progressively for the reason that launch of Grayscale’s Bitcoin Funding Belief in 2016.
The billionaire additionally famous that the remaining 90% of his liquid portfolio is invested “in valuable metals miners.”
Pliego was born in 1955 in Mexico Metropolis and is the founder and chairman of Grupo Salinas — which owns companies in media, telecommunications, finance, and retail.
Salinas can also be the chairman of TV Azteca, the second-largest producer of Spanish-language programming worldwide, and the second-largest media firm in Mexico.