I Would Hold Only Bitcoin for the Next 30 Years, Says Mexico’s Third-Richest Person

Mexico’s third-richest man, Ricardo Salinas Pliego, continues with his support for bitcoin by indicating that his bank is planning to start using BTC. While outlining the limited supply of the cryptocurrency as its most crucial merit, he said it would be the asset he would choose to invest in if he had to pick only one for the next thirty years.

Pliego’s Bank to Look Into BTC

The Mexican businessman, founder, and chairman of Grupo Salinas, has shown support for the primary cryptocurrency for years. His first purchase came at $8,000, and most recently, he urged every investor to consider buying at least a minor portion for their respective portfolios.

During a recent interview in Mexico, he spoke about the asset once more and noted that having a limited supply of just 21 million coins ever to exist is “the key part.”

Additionally, BTC has “international value, that is traded with an enormous liquidity at a global level,” which is why he doubled down on his belief that it should be a part of every portfolio.

The billionaire also plans to reassert his presence in the cryptocurrency space. Aside from having around 10% of his liquid portfolio invested in BTC, he said his banking business might start using BTC soon. Should that happen, it will be Mexico’s first bank to do so.

Bitcoin Is the One Asset for the Next 30 Years

After indicating that he had spent a lot of time studying bitcoin, Salinas Pliego further noted that cash is “fraud” and people should avert from it. When he started his career in 1981, the Mexican peso “was 20:1 to the USD; today, we are at 20,000:1.”

He also said that other nations’ local currencies, like Venezuela, Argentina, and Zimbabwe, have lost even more of their value compared to the dollar. Yet, the greenback itself is not all that better as the “monetary emission went to the money. The dollar as hard money is a joke.”

Interestingly, Salinas Pliego received a question on which would be the only asset he would hold for the next thirty years. He dismissed the “stinky” fiat immediately – “no paper bills” – instead, he said, “I would take bitcoin.”

Featured Image Courtesy of El Universal