Ricardo Salinas Pliego, a Mexican billionaire with a net worth of $13.2 billion and 10% of his liquid assets in bitcoin, recently stated in a YouTube video that every investor should own Bitcoin.
During an interview with Bitso’s former vice president of payments, José Rodrguez, Salinas persuaded Rodrguez that Bitcoin is a solid investment on par with gold. He stated that for people who are familiar with its qualities, the dispute over its nature is unimportant.
All of bitcoin’s benefits, in my opinion, are sufficient to make it the modern world’s gold. It’s pointless to argue over whether it’s a currency or not. the fact that Bitcoin is limited in supply, easy to transfer, and has a high level of worldwide liquidity are compelling reasons to consider it as part of an investment portfolio.
Ricardo Salinas views on Altcoins
But, for the time being, it appears that Salinas’ connection with Bitcoin is unrivaled. When asked if Ethereum and other cryptocurrencies could outperform BTC, Salinas was dubious. He emphasized that Ethereum weakness lies in its inflationary nature.
The 21 million limits on Bitcoin is the key to everything. That’s why I brought up Ethereum. Because they can issue more, while the asset depreciates, I won’t believe in them as long as there isn’t a fixed quantity of issuance.
Ricardo Salinas is an outspoken Bitcoin supporter. He was one of the first famous Latin American businesspeople to talk about cryptocurrencies and promote them on social media, he even joined several high-profile people, by adding the bitcoin hashtag to his Twitter bio.
Although Salinas has long endorsed viewpoints common to the average Bitcoiner’s philosophy, such as proclaiming himself an “entrepreneur passionate about innovation and liberty,” his connection to Bitcoin was released onto the internet crypto community in a fully unexpected manner.
On November 19, 2020, he tweeted a video showing bales of Venezuelan bolívars being thrown away, warning that “paper money is worth nothing” and backing the world’s leading cryptocurrency.
English Translation: To start with the #Bitcoin I share a video taken in a Latin country where banks throw money away (paper money is worth nothing) that is why it is always good to diversify our investment portfolio. This is inflationary expropriation!
Inflationary design of various currencies
Ricardo Salinas is particularly concerned about the inflationary design of various currencies. Latin American governments have abused their ability to create money artificially, reducing people’s purchasing power in the long run.
He stated that he began working professionally in 1981. The [Mexican] peso was 20 to 1 [dollar] at the time. Today, on the other hand, the dollar is worth 20,000. And that is in Mexico, but if we do the same thing in Venezuela, Argentina, or Zimbabwe, the figures become out of proportion.
Because Bitcoin is a worldwide and finite asset, it is immune to manipulation by any government, developer group, or centralized power entity. However, there is always some room for new ventures. He believes Monero and Zcash are appealing due to the privacy they provide.
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