What Mexican billionaire businessman wants to do with his Bitcoin

Spread the love

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.“

RECOMMENDED READ:  Litecoin price prediction: LTC to fall towards $77, analyst

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.”

 390 Interactions,  4 today

READ ALSO:
Fidelity’s Tom Jessop on why Crypto has reached a “tipping point.”

The crypto market has gained traction as a result of low interest rates and fiscal stimulus, according to a Fidelity Read more

How arrests for attempting to obtain a hitman and a nuclear bomb demonstrate that the dark web is not always anonymous.

Paying with cryptocurrency does not guarantee your safety. Most of the criticisms levelled at cryptocurrencies is that its difficult-to-trace existence Read more

The cryptocurrency market cap has surpassed $2 trillion, making it as valuable as Apple.

For the first time, the total market value of all cryptocurrencies exceeds $2 trillion. According to Goingecko numbers, the total Read more

Why crypto analyst Ben Armstrong says, ‘He Very Confident Bitcoin Will Reach $300K This Year.’

Recently, blockchain expert and influencer Ben Armstrong mentioned Bitcoin in a video posted to his highly popular YouTube channel “BitBoy Read more

Binance Coin, Dogecoin, SushiSwap Price Movement Analysis for 4th April, 2021

Binance Coin predicted that fresher record thresholds will be set in the coming days due to solid technicals. Following a Read more

Tron Price Movement Analysis for 4th April, 2021

In the cryptocurrency industry, excessive uncertainty has had a long-term effect on the price of the digital commodity. This uncertainty Read more

Chainlink, DigiByte, Enjin Coin Price Movement Analysis for 4th April, 2021

Bitcoin faced some selling pressure just above the $59k mark, leading it to slip to $56,600. The majority of the Read more

Bitcoin fell by more than 4%, causing many other cryptocurrencies to plummet drastically.

The world's most expensive cryptocurrency fell 4.1 percent, bringing several other coins down with it, sending the economy into the Read more

Litecoin Price Movement Analysis for 3rd April, 2021

For the last few days, the cryptocurrency industry has been playing chase with the bulls and bears. The economy has Read more

Polkadot Price Movement Analysis for 3rd April, 2021

The ETH/BTC pair has stopped trending downward and has actually made gains in recent days, flashing a buy signal across Read more

Leave a Reply

Contact Us