What Mexican billionaire businessman wants to do with his Bitcoin

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Ricardo Salinas Pliego, a Mexican billionaire businessman, thinks bitcoin is his best investment ever. In a recent interview, Salinas said that he had first learned about Bitcoin from a Grayscale representative who talked about how Bitcoin was “going to take over.” After the meeting, the businessman said that he had invested a small sum in Bitcoin when it was trading at $200 in 2013.

The businessman favored Grayscale Investments and said:

“What I liked about Grayscale was they simplified it — basically you put your money in the trust, then this trust would do the investment, they would take care of the whole thing […] and eventually that trust turned into GBTC, which is now an exchange-traded product.”

Salinas stated that bitcoin piqued his interest as a “payment vehicle” at first. However, he realized much later that the digital asset’s “store value made it valuable.”

The entrepreneur announced that he sold all of his BTC holdings in January 2017, when bitcoin was worth $17,000, and said:

“I had a big party, [was] very happy with my best investment [in bitcoin] ever, but you know, we always return to the scene of the crime, right?”

Then again, as it was trading at $10,000, Salinas continued to buy bitcoin and further dipped to $6,000. He said that the bitcoin he currently owns and plans to sell will not be sold. “sit around for another five or ten years.“

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Salinas disclosed earlier on November 17 that 10 percent of his liquid assets are invested in bitcoin.:

The Mexican conglomerate Grupo Salinas was founded by Ricardo Salinas Pliego, who was proclaimed the second-richest man in Mexico with a nett worth of about $11.7 billion. Forbes said at the time that Salinas was “the only Mexican billionaire whose wealth has risen over the past year.”

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