Mexico’s second richest man, Ricardo Salinas Pliego (Ricardo Salinas Pliego) confirmed that 10% of his current portfolio is invested in Bitcoin. The billionaire stated that top cryptocurrencies can protect private citizens’ wealth from confiscation. Pliego suggested that his followers may wish to follow in his footsteps to learn and understand Bitcoin. He also recommended a book “Bitcoin Standard” as an ideal learning tool for learners.
The Bitcoin case in the portfolio
With an estimated net worth of $11.9 billion, Pliego has joined a growing list of millionaires, billionaires, and companies that are now adding Bitcoin to their portfolio.At the same time, in one of his tweet, The billionaire gave his opinion on what Bitcoin can bring to the portfolio. He said:
Starting with Bitcoin, I shared a video shot in a Latin American country where the bank threw away the money (when the banknotes became worthless). He said that this is why it is always good to diversify our portfolio. This is an inflationary expropriation.
Pliego did not reveal the name of the valueless Latin country shown in the video. However, many people are convinced that he is referring to Venezuelan hyperinflation. The Bolivar is the currency of South American countries and is one of the worst performing currencies this year. Some citizens of Venezuela are now using Bitcoin to protect their investments and savings from the effects of inflation.
Mixed reactions to Pliego’s tweets
At the same time, people’s reactions to Priego’s comments on Bitcoin seem to be mixed with the applauding tweets about Bitcoin. Generally, non-Bitcoin people are skeptical of digital currencies, while others are surprised by Pliego’s Bitcoin applause. User Bryan GF was one of the people who responded positively to Pliego’s tweets. In his reply to Pliego, he requested:
Uncle Ricardo, besides Bitcoin, would you recommend other cryptocurrencies, such as Ethereum?
Another user, Carlos Dayan, said: “It is important to study how it works, understand the market cycle, the reason for its rise or fall, so as not to be afraid of price adjustments and use price discounts when prices fall.
However, users like Carlos Salinas have be attacked Pliego made “irresponsible comments.” According to the Twitter user, “Due to volatility, investing in cryptocurrencies is very risky. You only need to invest the funds you are willing to lose without affecting your personal finances.”
What is your opinion on the Bitcoin commentary of the Mexican billionaire? Tell us what you think in the comments section below.
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