Mexican Billionaire Diversifies Portfolio with 10% Bitcoin Investment

Ricardo Salinas Pliego sees government-issued fiats as worthless.

Mexican billionaire Ricardo Salinas Pliego has recently revealed that 10 percent of his entire liquid investment portfolio is tied up in Bitcoin.

In a tweet on Wednesday, the business tycoon revealed exposure of his wealth to the digital currency and recommended a book, El Patron Bitcoin (The Bitcoin Standard), to everyone for understanding the nature of the original cryptocurrency.

Pliego founded the Grupo Salinas in 2001 that has interests in many industries, including consumer electronics, sports and television networks. According to Forbes estimates, his net worth is around $11.7 billion. However, in a recent tweet, he claimed that he is worth $13.8 billion.

Despite the claim of investing 10 percent of his portfolio in Bitcoin, the actual investment amount is not known as he specified it to be his ‘liquid’ portfolio. The other 90 percent of his portfolio is tied to ‘precious metals miners’.

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The billionaire further showed his sentiment against government expropriation and highlighted Bitcoin’s role in protecting the citizens. Indeed, the adoption of Bitcoin can be seen in Venezuela and Zimbabwe as people there are fighting against hyperinflation.

In a subsequent tweet, Pliego stressed that the value of government-issued fiats is “worth nothing” and suggested everyone diversify their investment portfolios.

Towards a New Peak

Meanwhile, Bitcoin is showing a strong rally recently, and its market price surpassed $18,100, as of press time, according to Coinmarketcap.com, gaining over 17.4 percent in the last seven days and 8.8 percent in the previous 24 hours.

Furthermore, many companies are diversifying their chest with investment in digital currencies. MicroStrategy, a Nasdaq-listed business intelligence software company, invested $250 million in Bitcoin in August, which saw a 50 percent return in merely three months.

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