Mexico’s Second Richest Name: I’ll Definitely Buy Bitcoin

Ricardo Salinas Pliego, Mexico’s second-richest man, said he expected the price to drop to invest in bitcoin. Pliego, which holds 10% of its current portfolio in Bitcoin, explained that with the price falling, it would “definitely buy more bitcoins.”

Ricardo Salinas Pliego is known as the second richest man in Mexico with a fortune of $ 12.8 billion. Pliego, which prefers to invest in products such as gold and Silver, announced that it has allocated 10% of its investment basket to bitcoin this year. Pliego shared his views and memories of bitcoin during a meeting with The Cointelegraph team.

Price thought will get more
As an investor, Pliego prefers to invest in precious metals such as gold and silver. Pliego, which shies away from volatile shares in particular, is known to devote 10% of its portfolio to bitcoin. Pliego explained that he could increase that amount, “if the Bitcoin price goes down, I’ll definitely get more bitcoins.” said.

Explaining why he loves Bitcoin, Pliego reminded him that the world is now going digital by telling the history of money. Pliego, who believes bitcoin is part of the change, said it is a useful commodity. Pliego added, ” Whether or not to see Bitcoin as money is a personal choice, and it doesn’t matter.”he commented. Pliego said bitcoin is valuable as a “value storage tool.”

Made its first investment in 2013
The billionaire made his first investment in bitcoin in 2013, not this year. Pliego attended an event organized by Grayscale in 2013 and expressed what happened to him in the following words:

“Bitcoin’s price at that time was $ 200. But I didn’t understand the logic of digital wallets and cryptocurrency exchanges. That’s what I loved about grayscale. You put your money in there, and they took care of everything. Already that product later turned into GBTC. I invested $ 200 on November 1st. I looked at it on November 20; it was $ 550. I felt myself like a genius. Then I bought a lot of bitcoin. I didn’t sell them until 2017. We made good money.”

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