Home
News
- Ricardo Salinas previously revealed that 10% of his liquid portfolio is dedicated to bitcoin.
- He thinks that paper money is often worth nothing, hence it becomes very necessary to diversify the investment portfolio.
- Bitcoin is the new gold but only much more portable, convenient and safer.
The rivalry between bitcoin and gold is age old. On one hand people believe that BTC is not only equal but superior to gold. However, another cohort of people believe that bitcoin as an asset can never surpass gold as a store of value. Ricardo Salinas Pliego, the third richest man in Mexico undoubtedly thinks that bitcoin is the new gold.
In a recent tweet by Salinas, he expressed his support on bitcoin as an investment rather than fiat currencies and gold. Salinas has been a pretty big bitcoin proponent over the past few years. He previously revealed that 10% of his liquid portfolio is dedicated to bitcoin. He thinks that paper money is often worth nothing, hence it becomes very necessary to diversify the investment portfolio.
Bitcoin is Easier and Safer to use Than Gold
Salinas is furthering the obsession of digital currency that is spreading all over South America. Michael Saylor, the CEO of MicroStrategy tweeted that if the users are hoping to preserve wealth for a generation, then as Salinas suggests they must invest in bitcoin. Saylor adds that the strategy is quite simple – finding the highest quality asset and continuing to use them. To this Salinas replied, indeed bitcoin is the new gold but only much more portable, convenient and safer. He validates his stance by saying that having bitcoin is much easier and safer than having gold bars in pocket.
BTC Can Surpass the US Dollar When it Comes to Wealth Preservation
Saylor thinks that bitcoin can very easily beat the US fiat currency in terms of wealth preservation. In a previous tweet, Saylor had linked Salinas’ video interview. Salinas has expressed his admiration for the cryptocurrency several times through different platforms.
However, when he was questioned if Mexico had any plans of making bitcoin a legal tender, he said that he had no idea. Few days ago, the president of El Salvador declared bitcoin as a legal tender in a tweet. Bukele announced that a supermajority has approved Bitcoin Law in the Salvadoran Congress and that he proposal received 62 out of 84 votes.
However, the heated rivalry between gold and bitcoin still continues. Peter Schiff, the most noted gold bug is still criticizing crypto over gold. In a recent tweet, Peter claimed that users who bought bitcoin when it plummeted down to $30,000 lows will not buy the next. He added that the prime buyers would be those who took advantage of the bounce. Hence, the next dip will not receive this much investor interest. According to him new buyers may show up at $20000, however not as much as it did during the $30000 lows.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
