Introduction
There is a reason why the world’s richest men are crowding on cryptocurrencies, especially Bitcoin. The advantages of investing in Bitcoin as a store of value has exceeded all other asset classes in the last year.
From the world’s top investment moguls to billionaires in the manufacturing and telecom sectors, everyone wants to get their hands on some Bitcoins. Mexico’s second richest man, Mr. Ricardo Salinas Pliego is no stranger to Bitcoin.
He first invested in the year 2013, when Bitcoin was, (wait for it), a remarkable Two Hundred Dollars only! He sold it at a staggering and high rate of seventeen thousand dollars (when Bitcoin hit a record high in the year 2017).
However, he once again returned to crypto and has, if rumor mills are to be believed, invested more than ten percent of all his liquid assets into Bitcoin.
In this article, we hear from the man himself and try to understand five reasons why he thinks everyone, including you, should invest in Bitcoins.
List of 5 Reasons why Ricardo Salinas Pliego wants you to Invest in Bitcoins
1. The Debasing of Fiat Currencies
Salinas points out that countries the world over are seeing governments mismanage economic policies and financial systems. He gives two examples, Argentina and Venezuela, and states how inflation is destroying the financial systems.
Bitcoin held up against the onslaught of the Coronavirus pandemic, which shows its resilience and the faith people have in it. This follows up with his arguments in favour of a single global unified currency, which he measures against the dollar.
2. Cannot Be Confiscated
As against what naysayers of Bitcoin and cryptocurrencies state in terms of governments confiscating them, Salinas holds a different point of view. He categorically mentions that all the world’s richest men and women now have their hands-on Bitcoins.
This means that they would do everything in their power to prevent the authorities from confiscating the same. He says that these people (like him) are influential, powerful, and hold a lot of political and financial clout. The same makes it impossible to be confiscated.
3. Bitcoin is the Natural Evolution of Money
According to Salinas, the historical trajectory of money needs to be understood to make a case for Bitcoins. He says we have proceeded from paper to digital and that Bitcoin is the only logical outcome for the same.
While he agrees that the time is not yet right for Bitcoin to be used as a mainstream currency, he believes that the same will change over the next decade. Digital is the way forward and governments or anybody else cannot do anything to stop the same.
4. The Incredible Growth Rate
For Salinas, the high rates of growth are the major attractions for investors all over the world, and that too for the right reasons. He himself states that this was a major reason, which forced him to invest such a sizable chunk of his wealth into it.
He gives examples of other assets like real estate, commodities, and gold and says that as long as the ride continues, nothing can touch Bitcoins. He also points to Bitcoin Secret and states how far Bitcoin can reach is anyone’s guess.
5. The Best Long-Term Investment currently-
Lastly, he concludes his list of reasons by stating that for an investor who is looking for long-term growth, Bitcoin is the perfect asset. He gives his own example and states that this time around, he is going to invest and forget about the same for the next five to ten years.
He wants people to know that the real profits (astronomical ones) are going to be enjoyed by the long-term investors. He, however, warns that if you are not prepared to invest for the long run, you should cash out when the time is right.
The Final Word
Salinas is betting big on institutional investors to manage the price fluctuations. His personal prediction for Bitcoin for the year 2021 sits somewhere between eighty thousand dollars and a hundred thousand dollars. He says that this kind of growth has never been seen in his lifetime, and the same might not be ever repeated again.
HussaiN is a full-time professional blogger from India. He is passionate about content writing, tech enthusiasts, and computer technologies. Apart from content writing on the internet, he likes reading various tech magazines and several other blogs on the internet. Email ID: [email protected]
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