Ricardo Salinas Pliego, the third richest person in Mexico, said that Bitcoin is a must-have asset in every investment portfolio.
Ricardo Salinas Pliego, the third richest name in Mexico, said that Bitcoin is a must-have asset in every investment portfolio. Pliego already has Bitcoin investment.
Ricardo Salinas Pliego explained in an interview with Blockchain Land manager José Rodríguez that he is confident that Bitcoin is an investment as solid as gold. He said that the discussion about its nature is not so important for those who know its features:
“I think all the advantages Bitcoin has are enough to make it the gold of the modern world… There is no point in arguing whether it is a currency or not.”
21 Million Bitcoin Is The Key To Everything
Ricardo Salinas argues that Bitcoin’s limited, easy-to-carry and internationally excessive liquidity are compelling reasons to consider it an asset worth considering when building an investment portfolio. Salinas explains that every investor should own Bitcoin:
“Bitcoin is an asset of international value that is traded worldwide with enormous liquidity. Therefore, it should be in every portfolio.”
Ricardo Salinas is a strong Bitcoin supporter. The billionaire was one of the first prominent Latin American businessmen to talk about Bitcoin and support it on social networks. He also revealed that he holds 10% of his liquid investment portfolio in BTC, which is no small amount considering his wealth.
What About Altcoins?
Salinas’ relationship with Bitcoin does not seem to accept any competition. When asked about the potential of Ethereum and other altcoins, Salinas says he is not convinced they can outperform BTC. Regarding Ethereum , he explained that its weakness lies in its inflationary nature.
“The fact that Bitcoin has a shortage of 21 million is key to everything. That’s why I’m talking about Ethereum. Unless there is a limited issue amount, I won’t believe them because they can issue more and the asset may be depreciated.”
The inflationary design of some currencies is of particular importance to Ricardo Salinas. Latin American governments have come to the fore for abusing their power to artificially print money that harms people’s purchasing power in the long run:
“Look, I started my professional career in 1981. At that time, the [Mexican] pesos was 20 to 1 [dollar]. Today we are at 20,000 against the dollar. But if we do it in Venezuela, Argentina or Zimbabwe, the numbers lose all proportion.”
Because Bitcoin is a global and limited asset, it is safe from manipulation by any government, developer group, or centralized power entities.
But for other projects there always seems to be room for doubt. The billionaire added that he finds Monero and Zcash interesting because of the privacy they offer.