Mexico’s Third Richest Man Says Buy Bitcoin (P39)

Mexico’s Third Richest Man Says Buy Bitcoin Forget About Selling, You’ll Thank Me Later

The third-richest billionaire in Mexico, Ricardo Salinas Pliego, advises to buy bitcoin, keep buying while the price is still low, and hold the crypto without thinking of selling. “Trust me, you’re going to thank me later,” he affirmed.

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.”

Mexico's Third Richest Man Says Buy Bitcoin

Mexico’s Third Richest Man Says Buy Bitcoin

Earlier  Ricardo Salinas Pliego, the third richest man in Mexico, is eyeing the mining of Bitcoin from a geothermal power plant owned by one of his companies, so

Pliego is already a well-known figure in the cryptocurrency world and using the geothermal power plant of Domo San Pedro by his company Grupo Dragon (part of Grupo Salinas).

The plant has an installed geothermal power generation capacity of 25 MW.

With this, he follows the news of El Salvador which became the first country to adopt Bitcoin as a legal tender, is already using geothermal energy for Bitcoin mining and has large plans as we reported.

Utilizing renewable energy for Bitcoin mining clearly has become en vogue given the huge energy demand and impact it has on energy consumption and related carbon emissions. 

As a vivid supporter of Bitcoins, Ricardo Salinas’ Grupo Elektra stores already accept Bitcoin as legal tender.

However, his connection with Bitcoin does not end there, after all, the billionaire has his eye on the mining sector.

This idea was given by a Twitter user who recalled that Salinas owns Grupo Dragon, one of the five geothermal energy operators in Mexico.

Mexico’s Third-Richest Man Sees Bitcoin as Asset With ‘Extraordinary Properties’

Mexico’s Third-Richest Man Sees Bitcoin as Asset With ‘Extraordinary Properties’

Ricardo Salinas Pliego talked about bitcoin and fiat money in an interview with José Rodríguez, published last week.

He explained that he considers bitcoin a financial asset so it is not important to him whether BTC is a currency or not.

The billionaire pointed out that precious metals are also not currencies, noting: “You cannot go to a store with a gold coin and buy a computer.

You have to exchange the gold for fiat and then you buy the computer.”

Citing a number of advantages, including divisibility, ease of transfer, and the simplicity of storage without counterparty risk, the billionaire opined

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