Billionaire Ricardo Salinas Pliego’s Bitcoin Advice
Mexico’s third-richest billionaire, Ricardo Salinas Pliego, gave some advice Saturday about investing in bitcoin.
Salinas is the founder and chairman of Grupo Salinas, a group of companies with interests in telecommunications, media, financial services, and retail stores. According to Forbes’ list of billionaires, his net worth is currently more than $13 billion.
The billionaire tweeted Saturday urging his Twitter followers to buy bitcoin and keep buying while the price of BTC is still low. His tweet reads:
You have to buy bitcoin (keep buying when the price is low), then just hold your BTC, forget about selling … Trust me you’re going to thank me later.
Bitcoin has fallen more than 40% since its all-time high in November last year. A number of people and corporations have bought the dip, including the Nasdaq-listed Microstrategy, U.S. Senator Ted Cruz, and the government of El Salvador.
This is not the first time Salinas has strongly recommended buying bitcoin. He explained in June last year: “Bitcoin is an asset that has extraordinary properties … All the advantages that bitcoin has, for me, make it gold for the modern world.”
In comparison, Salinas often attacked fiat currency, calling it a fraud. “Governments don’t like bitcoin … it burns them that people can get out of their fiat trap because that is what fiat money is, a fraud,” he opined.
In November, he referenced “the scale of fake money creation” in the U.S., stating: “Good old USA is looking more and more like any other irresponsible third world country.” He then advised, “Buy bitcoin right now.”
He reiterated in December last year: “Stay away from fiat money. The dollar, the euro, the yen, or the peso — they are all the same story. It’s fake money made of paper and lies. The central banks are printing more money than ever before. Invest in bitcoin.”