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Mexico’s second-richest man invests 10% of his liquid portfolio in Bitcoin

Mexico’s second-richest man invests 10% of his liquid portfolio in Bitcoin

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 baggage stuffed with paper cash right into a dumpster. He asserted that “paper cash is price nothing,” including: “That’s the reason it’s all the time good to diversify our funding portfolio.”

The video seems to indicate baggage 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 advice for the e book The Bitcoin Sample, asserting that “Bitcoin protects the citizen from authorities expropriation” and revealing his cryptocurrency funding:

Based on a translation supplied by Google, the tweet said:

“At the moment I like to recommend THE BITCOIN PATTERN, this e book is the very best and most essential 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.

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