Ricardo Salinas Pliego, president of the Grupo Salinas conglomerate and Mexico’s second richest man, revealed in an interview to Cointelegraph that he bought his first Bitcoin in 2013, when it was worth about $ 200. According to the billionaire, that was his “best investment ever”.
After holding it all the way to the peak of 2017, he sold all of his positions for $ 17,000 and later bought it again at a lower price.
“We always return to the scene of the crime,” he joked.
Salinas now has about 10% of its liquid portfolio in BTC and has no plans to sell any of it anytime soon.
“I want to sit for another five or ten years,” he said.
Although initially drawn to Bitcoin as a medium of exchange, Salinas is now convinced that Bitcoin’s potential lies in the storage of value functions.
According to Salinas, Bitcoin properties are particularly attractive in Latin American economies where fiat currency is being cut and inflation is rampant.
“What is happening in Venezuela, in Argentina where fiat money is collapsing, has become a scandal … It really opens your eyes to the problem of fiat money,” he said.
Salinas also points out that Bitcoin is the natural result of the evolution of money from physical to digital.
“Bitcoin is bits and bytes in the ether, but the good thing is that it cannot be demeaned and confiscated so easily,” said Salinas.
Watch the full interview on our youtube channel and don’t forget to subscribe!