Ricardo Salinas Pliego, Mexican billionaire and second richest person reveals that 10% of his liquid portfolio is channelled in bitcoin investment. The billionaire confirms that Bitcoin is a sure investment that cannot be controlled by a higher authority or the government. Pliego recommends the book, “The Bitcoin Standard,” as an appropiate learning tool for beginners while admonishing his followers who might be interested in Bitcoin to equip themselves with more knowledge about the cryptocurrency by reading up and researching.
A Case For Bitcoin in a Portfolio
With an estimated net worth of $11.9 billion, Ricardo Salinas Pliego, joins the growing list of millionaires, billionaires, and corporations that are now adding bitcoin to their investment portfolios. Meanwhile, in one of his tweets, the billionaire gives his perspective on what bitcoin can bring to an investment portfolio. He says:
To start with bitcoin, I share a video taken in a Latin country where banks throw away money (when the banknotes become worthless). He says that is why it is always good to diversify our investment portfolio. This is inflationary expropriation.
Pliego has not divulged the name of the Latin country whose worthless currency is shown in the video. However, many are certain that he is referring to hyperinflation hit Venezuela. The South American country’s currency, the bolivar is one of the worst-performing currencies this year. Already, some citizens of Venezuela now use bitcoin to shield their investments and savings from inflation.
Mixed Reaction to Ricardo Salinas Pliego’s Tweets
Meanwhile, the reaction to Pliego’s remarks about bitcoin seems to be mixed with mainly bitcoiners applauding the tweets. Non-bitcoiners are skeptical of digital currencies, in general, while others are surprised by Pliego’s bitcoin applause. One of those responding positively to Pliego’s tweet is user Bryan GF. In his reply to Pliego he asks:
Uncle Ricardo, in addition to Bitcoin, would you recommend any other crypto for example Ethereum?
Another user Carlos Dayan says “the important thing is to study how it works, understand the market cycles, why it rises or falls, so as not to be afraid of the price correction and take advantage of price discounts when it falls.”
However, users like Carlos Salinas have attacked Ricardo Salinas Pliego for making the “irresponsible comment.” According to this Twitter user, “investing in cryptocurrencies carries a high risk due to volatility, you just have to invest the money that you are willing to lose without affecting personal finances.”
This article is sourced from:https://news.bitcoin.com