Mexico's billionaire invests in Bitcoin

[Rengga Jati]

Whoever they are, many more rich people invest in Bitcoin means it is good news. I don't know about him, but I thank him for investing more in BTC.
And this may be also good news in that country. Sometimes, people should be influenced and started by a popular person or rich person to follow being attracted to something. And if he really does it and many people know about this, I think it can give a kind of example to others. hopefully, this is one step to make many more richest people invest in BTC.

Yeah, but that's 10% of his "liquid portfolio" portfolio, not of his wealth.

Well, Although it is only 10% of his portfolio, it can be a good starter. Who knows that he may add the percentage by time because it is his first investment in BTC. It may be to ensure that investing in BTC is worth it. And about that amount, I think that the total amount is still much. 

[Shasha80]

I read an article in Cointelegraph that currently based on survey results about 73% of millionaires are starting to be interested
in investing in cryptocurrency. So Mexico billionaire finally decided to invest in Bitcoin maybe he didn't want to be left behind
to feel the profit from Bitcoin, I believe Bitcoin can reach an all time high price if more and more rich people decide to invest
in Bitcoin.

[peter0425]

At least now Rich people are outspoken about their support to bitcoin huh?

For few times that they are broadcasting the support and investing to our beloved Bitcoin and what this can give them in favor.

These people are very genuine in each investing and wont spent a single cent for nothing in return for them.

so i believe Mexican people now are starting to realize and adopt to this one.

[poodle63]

It is a huge number and I wonder how he got a deal available. And when this is just one billionaire, if others also jump in crypto with their boat loads of cash, what will happen to the average Joe? There will be too much demand which will also skyrocket the price of btc and Bitcoins will be more scarce in number as it will become very limited.

What if all those billionaires decide to sell bitcoin? There would be a huge sell off and the price of bitcoin certainly drop hard. And as the result, FOMO will happen affecting most of investors on the market which will form an unhealthy environment. No one wants 2017 to happen again. It was a nightmare to all of us.

Nowadays bitcoin market cap is enough to contain dumpings made by these billionaires if there's any. Our market cap is already $345 bln with $40bln volume if imagine a billionaire tries to dump $2 bln dollar it will surely make some significant effect to crypto market but not gonna last forever it will slowly recover there might be some decrease in price but the market will make up for it in the long run. There's nothing to worry about this problem.

[Golftech]

I read an article in Cointelegraph that currently based on survey results about 73% of millionaires are starting to be interested
in investing in cryptocurrency. So Mexico billionaire finally decided to invest in Bitcoin maybe he didn't want to be left behind
to feel the profit from Bitcoin, I believe Bitcoin can reach an all time high price if more and more rich people decide to invest
in Bitcoin.

The good catch here is the market will flow with lots of money being invested inside,
once there's news like this many will follow and expect more growth to happened.
Opening the door to  more wealthy people to also play and start investing to this market,
we never know what will be there long term plans but hopefully they are here to stay and
continue supporting this market.

[ethereumhunter]

Really good news that the top 1% of richest population of the earth consider Bitcoin as something of value and worth! I am sure this will contribute to more mainstreaming of crypto. And with time, I am having confidence that soon Bitcoin price will reach $100k for sure in near future!

If more billionaire people invest in bitcoin, bitcoin can be mainstream in that country because people will see the billionaire like to invest in bitcoin. That can make them follow the billionaire step to do the same, and if more people can join in bitcoin, the adoption will grow, and soon bitcoin price will get more support from people.

[worldofcoins]

He makes the correct stride and I know bitcoin won't let him down. I can see a lot of vacillation in bitcoin and I realize it will be on the moon.
The vast majority of individuals are discussing his dark cash however regardless of which cash he used to contribute it will help bitcoin to develop more.
Yet we ought not to fail to remember its profoundly unpredictable it can tumble down whenever, you can not be 100% certain in the bitcoin network.

[marlo1001]

This bull run will attract even more rich people in the industry if it will continue for another several months

[Dragonfund]

I read an article in Cointelegraph that currently based on survey results about 73% of millionaires are starting to be interested
in investing in cryptocurrency. So Mexico billionaire finally decided to invest in Bitcoin maybe he didn't want to be left behind
to feel the profit from Bitcoin, I believe Bitcoin can reach an all time high price if more and more rich people decide to invest
in Bitcoin.

There is a shift in financial and investment taste. Everyone are becoming smart each day as the world changes around us. In traditional markets, it will take most of this millionaires years to gain more wealth that's why they are diversifying their wealth portion into cryptocurrency. Thank goodness to Satoshi as everything is so transparent and readable as transactions are made each day.
Imagine investing in Gold for the last 10 years and all you cooud have gain is 10% when an you can be a whale in chain link with and double that funds with ROI of %100.

They are investing on bitcoin not just because of it simplicity but because they can easily make huge profits in short period of time. Imagine buying $100m of Btc when price was around $5k

[MCobian]

With the rapid rise in the price of Bitcoin which is sure to attract the attention of the rich people, if it comes to mexico billionaire
investing in Bitcoin, it's because Bitcoin is indeed the best performance compared to other assets. I am sure that billionaires from
other countries will invest in Bitcoin soon, it looks like the hype that happened in 2017 is repeating itself this year.

[Noctis Connor]

Woah this is great new for those other billionaires who wants to invest too he just took the first step for joining crypto industry , this could attract other billionaires to invest their liquid assets or other asset into bitcoin it can be an eye opener for them that bitcoin is not just a bitcoin but it is a on the top and having a good performance , and everyone is becoming smart nowadays not just wasting money , they thinking it now the future will be and going forward to see it.

[Renampun]

I read an article in Cointelegraph that currently based on survey results about 73% of millionaires are starting to be interested
in investing in cryptocurrency. So Mexico billionaire finally decided to invest in Bitcoin maybe he didn't want to be left behind
to feel the profit from Bitcoin, I believe Bitcoin can reach an all time high price if more and more rich people decide to invest
in Bitcoin.

finally, those who have large capital begin to be interested in Bitcoin...
most likely Bitcoin will become a measure of wealth for the rich in the future, the more of them who invest in Bitcoin, the better it will be for Bitcoin more valuable.

[EdenHazard]

With the rapid rise in the price of Bitcoin which is sure to attract the attention of the rich people, if it comes to mexico billionaire
investing in Bitcoin, it's because Bitcoin is indeed the best performance compared to other assets. I am sure that billionaires from
other countries will invest in Bitcoin soon, it looks like the hype that happened in 2017 is repeating itself this year.

Great time to sucking rich people's money .. now it's time to shake the market and get the first huge correction, no? I've heard there some other poor new investors coming for bitcoin and that's of course for speculation purpose , unless if they do the crypto business which makes them practitioners , they'll do believe in the crypto as a future not just a one time speculation and walk away.

The price remain strong at 18k though, but anything could happen , noone knows.

[smyslov]

Just imagine if we have thousands of billionaires or even millionaires investing even 5% of their portfolio that will mean Bitcoin will go to the moon, but there are pros and cons of this when they have more Bitcoin they can do pump and dump there should be an equal share of the supply, not only in the hands of the few.

[Spaffin]

I read an article in Cointelegraph that currently based on survey results about 73% of millionaires are starting to be interested
in investing in cryptocurrency. So Mexico billionaire finally decided to invest in Bitcoin maybe he didn't want to be left behind
to feel the profit from Bitcoin, I believe Bitcoin can reach an all time high price if more and more rich people decide to invest
in Bitcoin.

finally, those who have large capital begin to be interested in Bitcoin...
most likely Bitcoin will become a measure of wealth for the rich in the future, the more of them who invest in Bitcoin, the better it will be for Bitcoin more valuable.

I think this is a good indicator for the entire cryptocurrency market, and such facts should convincingly influence other users who start to panic and prepare for quick sales. I believe that we are now at the start of one of the largest bull races. Today there are all prerequisites for the stable growth of bitcoin.

[Rexler]

Wow, this is really great, another billionaire decides to give bitcoin a try, using 10% of his "liquid portfolio", looks like a gamble to him, maybe if things go south he will just say that's just 10%(even if it's a whole lot of Money), but that's how wise investors always do,they don't invest all their money into one project and, risk only what you can afford to lose that's it, but I'm really glad bitcoin is finally get the recognition it deserves, alot of investors have now come to know and understand the real potentials of bitcoin,we need to get used to this cause we will be seeing more of this any time soon.

[verita1]

I think it is good news for Bitcoin, Mexico and the countries of Latin America. Because my vision is that the businessman Ricardo Salinas Pliego by investing in Bitcoin can put his money to work promoting digital technology and the region wins by moving the economy.

https://twitter.com/RicardoBSalinas/status/1328895703486255104?s=19

[jaysabi]

If by chance bitcoin hits $20k before the end of the year, I predict you'll have another sharp fall like last time, because just like last time, this is nothing more than momentum chasing and people FOMOing into bitcoin. This type of price appreciation is not sustainable, and once confidence falters, it falls a lot faster than it rises.  (That's not a bitcoin thing specifically, all assets follow this same rule

This time may be different from the last time

If we assume that the 2017 highs happened because of Bitfinex relentlessly pumping Bitcoin via unbridled issuance of new tethers (we don't know that for certain but still), today's prices have very little in common with 2017 prices, apart from being nominally the same

In other words, it is entirely different forces that are at work these days and pushing the market up now. Consequently, we can't reasonably expect the price to crash after reaching 20k because it crashed in 2017. It is not impossible per se, of course, but if it will, it will crash for other reasons

I don't attribute it to that at all. I see the same circumstances now that I saw in 2017.  It's anecdotal, but when you have people who aren't into finance and don't understand crypto asking your opinion on whether they should buy bitcoin because the price has gone up so much, that's a sign that you're in bubble territory.  It appears to just be momentum seekers FOMOing into an asset they don't know anything about and won't have the stomach to hold for long periods of time.  Whether that proves out I suppose we'll see, but that's my view on it.