Ricardo Salina Pliego, the third richest man in Mexico, tweeted “Buy Bitcoin now” and pointed out that the US is as irresponsible as any other third world country.
Summary
“Buy Bitcoin now”: the advice of Ricardo Salinas Pliego
The Mexican billionaire, founder of Grupo Salinas in telecommunications, media, financial services and retail, shared his thoughts on Twitter with respect to a weekly chart of the total value of Federal Reserve assets (minus eliminations from consolidation).
The chart was updated on 18 November and shows total assets of more than $8.67 trillion. Here is Salinas Pliego’s tweet:
Good old USA is looking more and more like any other irresponsible third world country….wow…look at the scale of fake money creation.
Buy #Bitcoin right now. https://t.co/xzv0xk2TQq pic.twitter.com/JMslqlagLE— Don Ricardo Salinas Pliego (@RicardoBSalinas) November 24, 2021
“Good old USA is looking more and more like any other irresponsible third world country….wow…look at the scale of fake money creation. Buy Bitcoin right now”.
Ricardo Salinas Pliego then publicly suggested to his investors to buy Bitcoin, rather than relying on US policies, which appear to be “third world”.
According to Forbes’ list of 2021 Mexican billionaires, Salinas Pliego takes the podium in third position with a net worth of $12.9 billion, $1.2 billion more than a year ago.
Ricardo Salinas Pliego and cryptocurrencies
It seems that the queen of crypto, Bitcoin, has fascinated the Mexican billionaire for some time now, and he has already shared his thoughts on Twitter in the past.
Last year, in fact, Salinas Pliego had revealed that 10% of his liquid portfolio was in BTC, while in June 2021, he announced plans for his bank to accept Bitcoin. In this regard, he had tweeted the following:
“Sure, I recommend the use of Bitcoin, and I and my bank are working to be the first bank in Mexico to accept Bitcoin”.
Not only that, Salinas Pliego also spoke out on the issue of Bitcoin vs Gold, recommending the crypto queen and claiming it as the “new gold”, much easier to carry than bullion.
The collapse of the price of BTC
It is indeed true that when it comes to cryptocurrencies, the analysis of history should not be considered in the same way as for traditional assets. Bitcoin, in fact, seems to have hovered around $57,000 this past week, while touching $59,000 and $56,000.
But between Thursday and Friday, the price of Bitcoin also touched $53,000, something that has not happened since early October.
Also on Thursday, 51,900 contracts (both futures and options on Bitcoin) expired for a total value of nearly $3 billion. In view of the price fluctuations, sentiment on the day was bearish, with put options in higher demand than call options.
