Second Richest Man In Mexico Says BTC Is His Best Investment Ever

The second richest man in Mexico said that BTC is his best investment ever and said that he first bought one in 2013 when it was worth $200. Ricardo Salinas Pliego, who is the chairman of Group Salinas, said that Bitcoin will turn out to reach higher levels and he was quite happy about it as we can see more in today’s Bitcoin news.

The second richest man in Mexico Ricardo Salinas said that BTC was his best investment ever and he was holding it all the way until the 2017 highs as he sold his positions at $17,000 and then bought it again later at a cheaper price, as he jokingly said:

 “We always return to the scene of the crime.”

Now Salinas holds about 10% of his liquid portfolio in BTC and doesn’t plan to sell his coins any time soon:

“I want to sit around for another five or ten years.”

While initially attracted by BTC as a means of exchange, Salinas is convinced that BTC’s potential lies in the store of value features. According to him, Bitcoin’s properties are attractive in Latin American economies where the fiat currency is debased and inflation is rampant:

 “What’s happening in Venezuela, in Argentina where fiat money is collapsing has become a scandal (…) It really opens your eyes to the problem of fiat cash.”

Salinas pointed out that BTC is the natural result of the evolution of money from physical to digital:

 “Bitcoin is bits and bytes in the ether, but the good thing is that it cannot be debased and it cannot be confiscated that easily.”

As reported previously, The Spanish Santander Bank filed a Form-20-F with the United States Securities Exchange Commission, where it can be seen that Mexico will start offering these XRP-based services. Based on the ripple cryptocurrency RippleNET technology, One Pay FX will be independent of XRP and will not need digital currency to function as a bank spokesperson previously outlined. In the filing, the annual report has to be submitted to the SEC by all of the private issuers that listed equity shares on the US exchanges and as per the bank.

Also, The recent reports revealed that 70% of organizations in Mexico utilize cloud services and their networks are heavily exposed to external threats as local companies complained that the number of cryptojacking cases increased over the past year.