Bitcoin Can become Digital Gold – Mexico’s third Richest Man
Published
11 months agoon
The third richest man in Babylon, Ricardo Salinas Pliego has made bullish comments on Bitcoin as he is of the opinion that the digital asset is a good investment option. Just like Michael Saylor, CEO of MicroStrategy, Ricardo believes in Bitcoin over cash and he thinks everyone should have Bitcoin in their investment portfolios.
Ricardo stated in a recent interview with José Rodríguez, the director at Blockchain Land that Bitcoin should be considered a good investment just like gold and debate as to whether it is a currency or not isn’t necessary for those who are familiar with the technology behind it;
“In my opinion, all the advantages that bitcoin has are enough to make the gold of the modern world … There is no point in discussing whether it is a currency or not.”
Why Everyone Should Have Bitcoin
See also:Point 72 CEO Says He’s Ready to Go all in to Crypto
The third richest man cited a number of reasons why everyone should consider Bitcoin as an investment option. He cited its liquidity, ease of transportation as well as finite supply of Bitcoin (21 million). Ricardo argues these are internationally recognized standards for any investment;
Bitcoin is an asset that has international value, which is traded with enormous liquidity worldwide. For that reason, it should be in any portfolio.
Ricardo is said to hold 10% of his liquid investments in Bitcoin and that’s huge for his position of wealth in Mexico.
Altcoins can’t Flip Bitcoin
Ricardo believes Ethereum and other altcoins cannot outperform Bitcoin because of their nature. Most altcoins do not have finite supply like Bitcoin which Ricardo pointed out;
See also:Microstrategy Adds Fresh 13,005 Bitcoins to its Holdings
“The scarcity of Bitcoin, the 21 million, is the key to everything. That is why I mention Ethereum. Because as long as it does not have a finite amount of issuance, I will not believe them because they can issue more, and the asset depreciates.”
He linked the lack of finite supply citing examples of Latin American central banks who print more money and in the long run reduced the value and purchase power of the currency notes printed;
“Look, I started my professional career in 1981. Back then, the [Mexican] peso was 20 to 1 [dollar]. Today, on the other hand, we are at 20,000 to the dollar. And that’s here, in Mexico, but if we do it in Venezuela, Argentina or Zimbabwe, the figures lose all proportion.”
Latest Episode on Inside Blockchain
Crypto News Update
Crypto Street
Trending
Crypto Bootcamp Community Celebrates Bitcoin Pizza Day Across Africa
The advent of Bitcoin has paved the way for seamless cross-border payments. The demand for third-party intervention in financial transactions...
Explore, Build Assets, Fight and Earn in the Supernova Space
A new economy was opened in 2017 when blockchain was integrated into gaming to produce the first Web3 game: CryptoKitties....
Owl.Games: The Rise of Crypto Games in the Casino Industry
Crypto gaming used to be new a few years ago but it’s going mainstream now. However, there are some sectors...
BCAT Africa: Reducing Unemployment in Africa
One of the greatest lines spoken in the Spiderverse is “with great power comes great responsibility”, although it can be...
Gamified NFT Platform Trove Announces Launch Partners SideQuest
Trove has announced its new Launch Partnership with SideQuest, a gamified risk-to-earn NFT collection. It was announced on Twitter today. ...
ALL Sections
Recent Posts
- Move To Earn: Keep Fit, Sport, Connect and Earn on the Calo Metaverse
- Top 5 Move-to-earn Applications on Google Playstore
- Top Move-to-Earn Projects Below $100 Million Market Cap
- MetaRuffy: An Intersection of Blockchain, Web3, VR, and AR
- Crypto Bootcamp Community Celebrates Bitcoin Pizza Day Across Africa
[…] post Bitcoin Can become Digital Gold – Mexico’s third Richest Man appeared first on […]
[…] Read also: Bitcoin Can become Digital Gold – Mexico’s third Richest Man […]