Mexico’s second richest man has invested 10% of his portfolio in bitcoin (BTC)

Ricardo Salinas Pliego, the second richest man in Mexico, reveals on Twitter that he has invested 10% of his portfolio in bitcoin (BTC) .

First, the billionaire shared on Twitter a video of a bank throwing away massive paper money:

Para iniciar con el #Bitcoin, les comparto un video tomado en un país latino donde los bancos tiran el dinero a la basura (el papel moneda no vale nada) es por eso que siempre es bueno diversificar nuestro portafolio de inversiones 😌.

Esto es la expropiación inflacionaria! 🤦🏻‍♂️ pic.twitter.com/ahblQW6AhO

— Ricardo Salinas Pliego (@RicardoBSalinas) November 17, 2020

To get started with bitcoin, I first share a video that was made in a Latin country where banks are throwing money in the trash (paper money is worth nothing), so diversifying your investment portfolio is always good. This is inflationary expropriation!

It appears to be Venezuelan bolivar (VEF) in the video. That country has been struggling for years with a severe economic crisis and enormous inflation of the national currency. Shortly afterwards, Pliego recommended the book The Bitcoin Pattern to his followers and reports that 10% of his “liquid portfolio” is in bitcoin.

Hoy les recomiendo EL PATRÓN BITCOIN, este libro es el mejor y más importante para entender #Bitcoin.

El Bitcoin protege al ciudadano de la expropiación gubernamental.

Muchas personas me preguntan si tengo bitcoins, SÍ. Tengo el 10% de mi portafolio líquido invertido en el 😌💵 pic.twitter.com/6LtFVCXvuA

— Ricardo Salinas Pliego (@RicardoBSalinas) November 17, 2020

Today I recommend The Bitcoin Pattern, this is the best and most important book to learn bitcoin. Bitcoin protects the citizen from expropriation from the government. Many people ask if I own bitcoin. Yes, I have invested 10% of my liquid portfolio in it.

Says Pliego, who has an estimated net worth of no less than $ 11.8 billion. However, it is not clear how large his liquid portfolio is, so unfortunately we cannot calculate how much he actually has in bitcoin.

Dan Held of cryptocurrency exchange Kraken responded to Pliego’s message, calling out that the institutional horde is finally coming. Pliego then says it is not a hurdle, investments already started with Grayscale in 2016.