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Mexican billionaire: ‘Buy Bitcoin, keep buying and HODL when prices are low’

Mexico’s third-richest billionaire, Ricardo Salinas Pliego, advises buying bitcoin, keep buying as long as the price stays low, and holding the cryptocurrency without thinking about selling.

“You have to buy bitcoin (keep buying when the price is low), then hold the BTC and forget to sell it… Trust me, you’ll thank me later.”

Ricardo Salinas Pliego – Mexican billionaire

Salinas is Founder and President of Grupo Salinas, a group of companies with interests in telecommunications, media, financial services and retail businesses. According to Forbes billionaires list, his net worth is currently more than $13 billion.

Bitcoin is down more than 40% since its all-time high last November.

Individuals and companies that bought the Bitcoin dip include Nasdaq-listed Microstrategy, US Senator Ted Cruz, and the El Salvador government.

Source: TradingView

This isn’t the first time Salinas has recommended buying Bitcoin. He stated last June:

“Bitcoin is an asset with special characteristics… All the advantages that Bitcoin has make it gold in the modern world to me.”

Meanwhile, Salinas often attacks Fiat, calling it a scam.

“Governments don’t like bitcoin… because it’s a way for people to get out of their fiat trap, because fiat money is a scam.”

In November, he mentioned the “level of counterfeiting” in the US, saying that “old America is looking more and more like any other irresponsible Third World country.” Then he advised: “Buy Bitcoin now”.

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.