- The Mexican Businessman bought Bitcoins at $200 and sold them at $17,000 making a profit of $16,800 on each coin
- Salinas holds a total of 10% of Liquid portfolio in Bitcoin and is not planning to sell it in the coming future
- Salinas stated the crash of Fiat currency in Latin American countries and urged the mass to look up to Crypto’s as they cannot be confiscated
The Mexican businessman, Ricardo Salinas Pliego claims his investment in Bitcoin (BTC) as the best investment of his lifetime. In 2013, when Bitcoin was priced around just $200, Salinas took a gainful step to buy them. When Bitcoin prices surged and marked a level of $17,000, Salinas sold all of them, making a profit of $16,800 over every single coin.
Salinas holds a total of 10% liquid portfolio in Bitcoin
According to Forbes, Salinas’s current worth is $12.8 Billion, making him the second richest person in Mexico. One of Salinas tweets revealed that he holds a total of 10% liquid portfolio in the asset, and he is not planning to sell it in the coming 5-10 years. These days, he is also spotted promoting Bitcoin and encouraging mass to diversify investment wallets.
The billionaire, post selling the initial BTC’s, bought more of them. Notably, the Crypto prices are observed on a continuous surge, giving him another good profit opportunity.
Salinas, the founder chairman of Grupo Salinas, a corporate union developed by several Mexican companies mentioned that his reason to buy Bitcoin was straightforward. He had to ‘protect his property from inflation’. Furthermore, Salinas urged investors to do the same. To get an idea of investment he further suggested to acquire ‘El Patrón Bitcoin’, a book by Dr Saifedean Ammous.
Latin American countries about to debase Fiat Currency
The potential of the Crypto resides in the store of value features. It is not just a means of exchange. Bitcoin may be seen as a conclusion of the evolution of money from physical to digital.
In the Latin American economies where fiat currencies are being abandoned, and no inflation is seen. Here, Bitcoin properties may become a significant attraction. In Venezuela, Argentina, where fiat money is getting debased, the problem of Fiat cash is significant. Bitcoin may be brought to existence in such situations as the Crypto cannot be debased easily.
Investments done today can lead to a Future of Sky of Hopes!
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