The second-wealthiest man in Mexico, Ricardo Salinas Pliego, has reported that 10% of his liquid portfolio is invested in Bitcoin, the leading cryptocurrency. The billionaire posted a video captured in a Latin country that depicted banks tossing garbage bags into a dumpster filled with paper money. He asserted that nothing is worth paper money.
The posted video shows thrown out bags of Venezuelan bolivars, including 10,000 bolivar notes released in 2016 and 2017. In recent years the demand for office space has also increased.
A recommendation for the book The Bitcoin Pattern, Pliego also tweeted, claiming that Bitcoin protects the citizen from government expropriation and reveals his investment in cryptocurrencies.
“today, I recommend THE BITCOIN PATTERN, this book is the best and most important to understand Bitcoin. Bitcoin protects the citizen from government expropriation. Many people ask me if I have bitcoins, YES. I have 10% of my liquid portfolio invested.”
The crypto community reacted happily to the news that Bitcoin is significantly invested in the 166th most prosperous citizen in the world, with Kraken’s Dan Held proclaiming that the institutional herd is stamping.
At the time of writing, bitcoin’s price is trading at just above $18,100-the amount not seen since 2017. In the past week, Bitcoin has made a huge upward movement and is expected to continue to rise for now. When the COVID 19 pandemic hit, the leading crypto-currency price had reached as low as $4,000 earlier this year. The Mexican billionaire also noted that the remaining 90% of his liquid portfolio is invested in miners of precious metals.