Ricardo Salinas Pliego, the second-wealthiest man in Mexico, has revealed that 10% of his “liquid portfolio” is invested in the leading cryptocurrency, Bitcoin. The billionaire shared a video captured in “a Latin country” depicting banks throwing out garbage bags filled with paper money into a dumpster. He asserted that “paper money is worth nothing,” adding: “That is why it is always good to diversify our investment portfolio.” The video posted appears to show bags of Venezuelan bolivars being thrown out, including 10,000 bolivar notes issued in 2016 and 2017. Need for office space has also increased in the recent time.
“Bitcoin protects the citizen from government expropriation.”
Pliego also tweeted a recommendation for the book The Bitcoin Pattern, asserting that “Bitcoin protects the citizen from government expropriation” and revealing his cryptocurrency investment. He tweeted, “today, I recommend THE BITCOIN PATTERN, this book is the best and most important to understand Bitcoin. Bitcoin protects the citizen from government expropriation. Many people ask me if I have bitcoins, YES. I have 10% of my liquid portfolio invested.” The crypto community reacted gleefully to the news that the world’s 166th wealthiest citizen is significantly invested in Bitcoin, with Kraken’s Dan Held proclaiming that, “The institutional herd is stampeding.”
Bitcoin reaches another all-time-high of this year.
At the time of writing, bitcoin’s price is trading at just above $18,100- the level not seen since 2017. Bitcoin has made massive upward movement in the past week and is expected to continue to rise for now. The leading cryptocurrency price had reached as low as $4,000 earlier this year when the COVID 19 pandemic hit. The Mexican billionaire also noted that the remaining 90% of his liquid portfolio is invested “in precious metals miners.”