Ricardo Salinas Plejo, the second richest man in Mexico, reported that 10% of his “liquid wallet” is invested in bitcoin (BTC).

The billionaire shared a video, filmed in a “Latin country,” in which banks throw garbage bags full of paper money into a landfill. “Paper money is worthless,” he said, “so it’s always good to diversify our portfolio.”

The video shows sacks of Venezuelan bolivars being dropped, including 10,000 bolivars in banknotes issued in 2016 and 2017 before the country renamed banknotes in 2018 amid the escalating inflationary crisis.

Three hours later, Pliego tweeted a recommendation for The Bitcoin Standard, stating that “Bitcoin protects the citizen from government confiscation,” and reveals his investment in cryptocurrency:

According to a translation provided by Google, the tweet reads:

“Today I recommend the BITCOIN pattern, this book is the best and most important one for understanding Bitcoin. Bitcoin protects citizens from government confiscation. Many people ask me if I have bitcoins, yes. I invested 10% of my money in the portfolio. ”
Crypto Twitter happily responded to news that the 166th richest citizen in the world is investing heavily in bitcoin, with Kraken’s Dan Held saying, “A herd of institutional structures is being trampled underfoot.”

Pliego responded to Held by saying that institutional adoption has been slowly showing since the launch of the Grayscales Bitcoin Investment Trust in 2016.

The billionaire also indicated that the remaining 90% of his liquid portfolio is invested in a “precious metals mine.”

Bleigo was born in 1955 in Mexico City. He is the founder and chairman of the board of Grupo Salinas, which owns companies in the fields of media, communications, finance and retail.

Salinas is also the chairman of TV Azteca, the second largest producer of Spanish-language programming in the world and the second largest media company in Mexico.

Source: CoinTelegraph