Second richest man in Mexico invests in Bitcoin

Mexico’s second richest person, Ricardo Salinas Pliego, recently twittered that he had invested 10 percent of his liquid portfolio in Bitcoin (BTC). Pliego is the founder of Grupo Salinas and chairman of TV Azteca, the world’s second largest producer of Spanish-language programming and Mexico’s second largest media company.

Billionaire Ricardo Salinas Pliego recently shared a video showing banks dumping sacks of Venezuelan bolivar into dumpsters. Among them were 10,000 bolivar notes issued in 2016 and 2017 before Mexico renamed its banknotes „Mexican peso“ in 2018. The background to this renaming was an imminent inflation crisis in the country.

Pliego, who according to Forbes is the second richest man in Bitcoin Bank the country, claimed in this context that fiat money no longer had any value. In his opinion, it is advisable to diversify investment portfolios. Three hours after this video was published, Pliego recommended the book „The Bitcoin Standard“ via Twitter. It was the best and most important book to understand Bitcoin:

Bitcoin protects citizens from state expropriation. Many people ask me if I have Bitcoins. Yes, I have invested 10% of my liquid portfolio.

The crypto-community on Twitter welcomed Pliego’s statements. So did Dan Held:

The institutional herd is stomping. Mexico’s third richest man has just announced that 10% of his net assets are in Bitcoin.

Pliego responded to Held’s reaction by stating that the institutional takeover has manifested itself gradually since the Grayscale Bitcoin Investment Trust was established in 2016. He also stated that he invested the remaining 90 percent of his liquid portfolio in precious metals.