According to his recent tweet, Pliego has invested 10% of his net worth in the booming digital asset and also urged his teeming followers to buy a Bitcoin-focused book, for them to understand how it works in the world of cryptocurrency.
Pliego is the founder of Grupo Salinas, a company founded in 2001 with interests in consumer electronics, sports, and television networks. As reported by Forbes earlier this year, he’s currently worth $11.7 billion. However, in a separate tweet shared a few hours ago, Pliego said he’s worth $13.8 billion.
Considering his net worth, it can simply be deduced that he currently has about $1 billion investment in the first and largest cryptocurrency, Bitcoin (BTC).
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Nevertheless, Pliego did not ask his followers to blindly believe and invest in BTC, but he recommended a Bitcoin-focused book to help them in their decision-making.
On 18th November, he shared this with his teeming followers on Twitter, “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…”
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
The sentiment is similar to the one increasingly voiced by prominent investors and technology companies around the world—that of holding Bitcoin as a hedge against the incessant money printing (to artificially save the economy) and rising inflation in the coming years.
Such concerns are not overstated. Countries like Venezuela, Zimbabwe, and a few others are currently suffering from rampant inflation and the absolute devaluation of their fiat currencies—which Pliego highlighted in a separate tweet earlier today.
Pliego tweeted, “To start with Bitcoin, I share a video taken in a Latin country where banks throw money away (paper money is worth nothing) that is why it is always good to diversify our investment portfolio.”
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
Meanwhile, Bitcoin (BTC) continues to experience a surge in price. BTC managed to test above $18,000 resistance before a slight retracement.
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Over the last week, Bitcoin has managed a relatively 16% upsurge according to CoinMarketCap. At the time of filing this report, BTC is trading at $17,998.26, with a relatively 8% price uptrend in the last 24 hours.
