Ricardo Salinas Pliego, chairman at conglomerate Grupo Salinas and Mexico’s second richest man, has revealed to Cointelegraph in an interview that he purchased his first Bitcoin in 2013, when it was price round $200. That, in keeping with the billionaire, was his “greatest funding ever”.
After holding all of it the best way till its 2017 highs, he offered all his positions at $17,000 and purchased it once more later at a less expensive value.
“We at all times return to the scene of the crime”, he joked.
Now Salinas holds round 10% of his liquid portfolio in BTC and does not plan to promote any of it any time quickly.
“I need to sit round for an additional 5 or ten years”, he mentioned.
Whereas initially attracted by Bitcoin as a method of change, Salinas is now satisfied that Bitcoin’s potential resides in its retailer of worth options.
Based on Salinas, Bitcoin’s properties are notably engaging in Latin American economies the place fiat foreign money is being debased and inflation is rampant.
“What’s occurring in Venezuela, in Argentina the place fiat cash is collapsing has turn into a scandal (…) It actually opens your eyes to the issue of fiat money”, he mentioned.
Salinas additionally factors out, Bitcoin is the pure results of the evolution of cash, from bodily to digital.
“Bitcoin is bits and bytes within the ether, however the good factor is that it can’t be debased and it can’t be confiscated that simply”, identified Salinas.
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