Posted 4 months ago | by @devadmin
In an interview with Cointelegraph, Ricardo Salinas Pliego said he was bullish on Bitcoin calling it, “the best investment ever.”
Ricardo Salinas Pliego, who is the second richest man in Mexico and chairman at conglomerate Grupo Salinas confessed to Cointelegraph in an interview that he first bought Bitcoin in 2013, when it was worth around just $200. The billionaire expressed to Cointelegraph that “best investment ever”.
However, Pliego didn’t continue holding until now, instead, he sold all of his BTC at $17,000 and bought it again later at a cheaper price.
Currently, Pliego holds around 10% of his liquid portfolio in BTC and doesn’t plan to sell in at least 5 to 10 years this time, Cointelegraph reported.
“I want to sit around for another five or ten years”, Pliego said.
Pliego originally said he was interested in Bitcoin as a means of exchange. Although, now he’s convinced that Bitcoin’s potential is in its store of value.
According to Pliego, Bitcoin’s characteristics are especially attractive for collapsing Latin American economies where fiat currency has gone into hyperinflation like Venezuela and Argentina.
“What’s happening in Venezuela, in Argentina where fiat money is collapsing has become a scandal (…) It really opens your eyes to the problem of fiat cash”, Pliego said.
Pliego also pointed out that Bitcoin cannot be debased or confiscated.
“Bitcoin is bits and bytes in the ether, but the good thing is that it cannot be debased and it cannot be confiscated that easily,” Pliego said.
Check out the full interview on Cointelegraph’s Youtube channel below.
Bitcoin is currently trading at [FIAT: $26,512.20] UP +7.2% in the last 24 hours according to Coingecko at the time of this report.