Founder of Mexico’s Second Largest Broadcasting Company Invests 10% of Assets in Bitcoin
Mexico’s second-richest person, Ricardo Salinas Pliego, revealed on Wednesday that he has 10% of his liquid assets in Bitcoin. Salinas Pliego is the chairman and founder of Grupo Salinas, the conglomerate that owns the second largest broadcasting company in the country, TV Azteca.
The Mexican business, whose estimated net worth is US$13.2 billion in February 2020, had some love to shower on BTC as he said, “Bitcoin protects the citizen from government expropriation.”
As Dan Held, Director of Business Development for crypto exchange, Kraken, said, “The institutional herd is stampeding.”
Salinas Pliego may have revealed his love for Bitcoin only now, but he clarified that he has been into the digital asset since 2016 through Grayscale. He said,
“For me it's no “stampede”, started with Grayscale at 800 dlls BTC in 2016.”
Besides the 10% of his “liquid portfolio” in BTC, the other 90% is in precious metals miners.
Para iniciar con el #Bitcoin, les comparto un video tomado en un país latino donde los bancos tiran el dinero a la basura (el papel moneda no vale nada) es por eso que siempre es bueno diversificar nuestro portafolio de inversiones 😌.
Esto es la expropiación inflacionaria! 🤦🏻♂️ pic.twitter.com/ahblQW6AhO
— Ricardo Salinas Pliego (@RicardoBSalinas) November 17, 2020
While praising BTC, he recommended “Saifedean Ammous’s The Bitcoin Pattern,” the best and most important tool to understand the flagship cryptocurrency.
“Bitcoin is a monetary network that gets stronger as more individuals & corporations adopt it to protect their treasury reserves. The fire in cyberspace is spreading…” Michael Saylor, CEO of MicroStrategy, the first publicly-listed company to make Bitcoin part of its balance sheet, an investment now up over 50%, commented on this development.
In another news, as we reported, Maisie Williams, who played Arya Stark in Game of Thrones, name-dropped Bitcoin on Tuesday, asking Twitter users if she should go long or short on it.
I bought more $BTC last night at 15800. It’s going to 20k and the. To 65 k. The network effect has taken over. I see tons of new buyers and there is very little supply. It’s an easier trade here that at 11k. So YES, buy it.
— Mike Novogratz (@novogratz) November 17, 2020
“@Maisie_Williams is wiser than most professional investors, 45.6% of her fans know the answer, & only .1% of the money has figured this out and moved onto the Bitcoin monetary network. Bitcoin is a risk worth taking. Bitcoin is hope.com,” said Saylor.