The Second-Wealthiest Man In Mexico Reveals 10% Of His “Liquid Portfolio” Is Invested In Bitcoin
The Second-Wealthiest Man In Mexico Reveals 10% Of His “Liquid Portfolio” Is Invested In Bitcoin
November 19, 2020
The Second-Wealthiest Man In Mexico Reveals 10% Of His “Liquid Portfolio” Is Invested In Bitcoin
The Second-Wealthiest Man In Mexico Reveals 10% Of His “Liquid Portfolio” Is Invested In Bitcoin
November 19, 2020

Ricardo Salinas Pliego, the second-wealthiest man in Mexico, has revealed that 10% of his “liquid portfolio” is invested in Bitcoin (BTC).

It has been reported that 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.”

He added:

“That is why it is always good to diversify our investment portfolio.”

However, the video appears to show bags of Venezuelan bolivars being thrown out by including 10,000 bolivar notes issued in 2016 and 2017 before the country redenominated its banknotes in 2018 amid an escalating inflation crisis. 

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The report said that three hours later, Pliego tweeted a recommendation for the book The Bitcoin Standard, asserting that “Bitcoin protects the citizen from government expropriation” and revealing his cryptocurrency investment.

According to a translation provided by Google, the tweet states:

“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.”

Likewise, Crypto Twitter reacted to the news that the world’s 166th-wealthiest citizen is significantly invested in Bitcoin, with Kraken’s Dan Held proclaiming, “The institutional herd is stampeding.”

Pliego responded to Held by saying that institutional adoption had manifested gradually since the launch of Grayscale’s Bitcoin Investment Trust in 2016.

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Thus, the billionaire also noted that the remaining 90% of his liquid portfolio is invested “in precious metals miners.”

Source: Cointelegraph


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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.