Another billionaire just invested in bitcoin

[davis196]

The net worth of Ricardo Salinas Pliego according to Forbes is around 12 billion dollars.
10% of his "liquid portfolio" means a few million dollars,I guess.
Not bad,but not impressive.Anyways,more billionaires and millionaires are buying Bitcoin,so Bitcoin looks more legit in the eyes of the rich elite.The price is going up and more middle class people might follow the example of the rich and start buying BTC.
I'm concerned that most of the new Bitcoin buyers are mostly speculators looking for big profits,rather then fan of the technology behind Bitcoin.I guess that they will buy and use some BTC,in order to appreciate the concept of blockchain technology.

[KnightElite]

The net worth of Ricardo Salinas Pliego according to Forbes is around 12 billion dollars.
10% of his "liquid portfolio" means a few million dollars,I guess.
Not bad,but not impressive.Anyways,more billionaires and millionaires are buying Bitcoin,so Bitcoin looks more legit in the eyes of the rich elite.The price is going up and more middle class people might follow the example of the rich and start buying BTC.
I'm concerned that most of the new Bitcoin buyers are mostly speculators looking for big profits,rather then fan of the technology behind Bitcoin.I guess that they will buy and use some BTC,in order to appreciate the concept of blockchain technology.

Imagine the 10% of the portfolio of a certain billionaire is so huge, we are talking about millions of dollars here so for sure it can be a factor why the volume of the bitcoin in the last weeks are keep rising. So, another billionaire became interested in cryptocurrencies, I also speculate that there are some billionaires who also buying but not telling it in the public because it can create hype like this one. Finally, institutional investors, billionaires and some traditional investors are now becoming aware to the potential of the bitcoin. I'm sure that the popularity of the bitcoin will drive crazy after it beat the $20,000 mark and a lot of investors will pull out their money in different financial instrument to ride the upcoming price increase of the bitcoin.

[concept2]

What a nice decision he has made. Bitcoin has been a good choice for many wealthy people. Small investors seem do not care about bitcoin like they used to be in the 2017. This is a good sign cause whales tend to be dependable from FOMO and FUD.

Paper money is now a big issue to many people since it becomes worthless through years. They cant never stop the inflation or maybe it is a tool for them to control the world. Bitcoin is one of the best escape for us. Hold your beer and bitcoin everyone. Our time is near

[bakasabo]

When I see articles like this, when some very rich person invests huge amount of money on something or buys something, and makes announcement of that, first think that came to my mind is "it's a trap!". Why would someone announce that he spends a lot? Sometimes this persons is in bad financial situation and with such move he just want to get attention to something and sell something for a good price.

If I go now to the street and say "Bitcoin reached 18k, I had 10 coins and exchanged them to fiat". I would immediately got robbed, or would be a person of an interest for tax department.

I think you're overthinking it, it's normal for rich people to sometimes being open about what they invest in - perhaps they want the price of their asset to go up by announcing that they are bullish. The whole world already know that they are rich, it's not like they are going to now get robbed because they told that they own BTC. Besides, their BTC probably sits in some custodial wallet, and even if not, they have enough physical security to not worry about such things.

My post was just an example. Of course rich people are crowded with all kind of security. But imho, such announcements trigger bad guys to start acting in direction of obtaining someone's property.

According to article, he is "an owner of appliance retailer and lender Grupo Elektra". I'm sure this investment in bitcoin was made to push Grupo Elektra stock up, or at least there was intend to do such through investment and announcement.

[Latviand]

Great news, I hope other billionaires will follow the same as it will push Bitcoin towards it's ATH value but this comes with great risk as well because the more rich people invest into Bitcoin the more it becomes like a gambling wherein they may cashout anything sending shockwaves across the bitcoin's community like whales did last time.

Whales are really selfish when they think that they are the only one who are investors of bitcoin. Bitcoin is for everyone and by that, we will just rely on those whales or large investors just like this. They are the one who causes the pump in bitcoin's price in the market and they are also the one who benefit its the most. Let's accept the cryptocurrency and the market is so unfair but if you're good at making decisions then you will make it profitable and effective for you. Bull run is really happening right now and keep on observing the market so that problems like this will not cause an inconvenience for you.

[fauzan123]

Now it is looking very similar to what we had during the 4th quarter of 2017. I just hope that this time the hype will last unlike what happened back then. Back in 2017, after the ATH level was achieved, it was a steep fall from $20,000 to $3,000 per coin. Let's not forget the fact that most of the recent spike can be attributed to a single trigger - the acceptance by PayPal. If there is some bad news related to the PayPal adoption, then the prices will go back to the previous level in a matter of few days.

I would say it's different though, I mean in 2017, we haven't heard any billionaires dabbing on bitcoin. It's more of the CME and CBoE hype in December that really push us to $20k that formed the bubble, many irrational buyers. But today investors mature and then we have more institutional money and then Paypal and then this so called rich investors who finally join the bandwagon because they see what it can bring and maybe they are hedging their wealth to bitcoin just for insurance of governments printing more money.

The current pandemic could be one of the positive things (if you look at the current developments in bitcoin). I think that in 2017, there was no precise information about whether anyone had actually become a millionaire by investing their funds in bitcoin that year, of course only a few still know what the prospects for bitcoin will be in the future.

Feel sorry? It seems that there is no need to be sorry because there are many things that can be obtained so far under any circumstances in bitcoin.

[nebuch]

@yashikasss4
What do you want to say?
Your post is just links.

To op, this matter could influence more billioners in the world and put investment to bitcoin. Possible to see Bitcoin ATH this year once more billioners come and invest in bitcoin.

[blckhawk]

The increase in the price of Bitcoin in a pandemic situation like now has attracted some rich people to invest in Bitcoin.
After Paypal was interested in Bitcoin, now it's Ricardo Salinas turn to invest 10% of his liquid portfolio into Bitcoin.
This makes me believe Bitcoin will actually hit new ATH prices by the end of this year, even the price of Bitcoin is now at
the price of $ 17,800. It's getting closer to the price of ATH, and it's going to hit $ 19,000 soon.

This pandemic could also be a big factor on the growth of Bitcoin. Stock market are almost down on that time giving a sign for several investors to pull out their investment on it and put it into something productive like Bitcoin. One factor could also be the paypal's accepting to purchase and sell Crypto through their wallet. And now a billionaire who entered the scene. This could really make Bitcoin to hit the new ATH mark before this year come to its end.

[Karartma1]

The truth is out there for everybody to recognise it! Bitcoin is the investment asset class that HNWIs (High-Net-Worth Individuals) ultimately want. I know it for a fact as I have been in many meetings with asset managers and wealth managers that are trying hard to understand how to manage bitcoin investments for their wealthy clients.
They are coming for your bitcoins, watch out!

[goldade]

I should say congratulations to him as he has now understood the importance of bitcoin. I'm sure he must be fed up of having his money controlled by the banks and I wouldn't be surprised if he eventually put all his money into bitcoin and not just his 10%.
This is also a great news for the crypto community. It is when whales like this accept bitcoin that it accelerates the the mainstream adoption of bitcoin. I believe if things continue this way, it won't be very long before bitcoin becomes the world wide currency

[Reid]

No proofs. Just a tweet. Should we really rely on that?
This could just be a strategy to pump the price if he's really holding some bitcoin but I doubt it will be 10 percent of his assets.

It's starting.
We will see more tweets and headlines like this trying to be the hero or with evil intentions.
Then, there are the analysts' wannabes.

[aesma]

Is it the first time someone very wealthy tells us how much he put in BTC (allegedly) ? That's definitely a significant move, and 10% is the right amount I feel, if it goes to zero he's not too hurt, if it goes up it's enough to continue to be very rich even if the other 90% of stuff he owns goes to zero.

Nope, not the first time.

Michael Saylor, Microstrategy's CEO, also made public pronouncements of his $240 million in Bitcoin. Michael Novogratz also made it public how much percentage of his net worth is in Bitcoin and Ethereum. Twitter's Jack Dorsey also provided some hints. And who hasn't heard of the famous twins Tyler and Cameron Winklevoss' public revelation that they own around 1% of the entire Bitcoin in circulation? The list goes on.

Michael Saylor put his company's money in BTC, not his own (that we know of). It's not the same thing, as he had to announce this anyway, for a publicly traded company.

The Winklevoss brothers are bitcoin millionaires from the start so it's not the same thing either.

Michael Novogratz is a better example, I see he's trading crypto as it's his thing (hedge fund manager), but indeed he talks about his holdings.

[plvbob0070]

We are getting more people to invest in bitcoin and it's gaining more attention nowadays which I can say is a good thing for us. And the fact that he invested 10% of his liquid portfolio means he has a trust in bitcoin that it will do well in the next coming months or years. If this will continue, it can also attract other people but I just hope that these people who are keeping their eye on bitcoin to invest should know how the market works and how to deal with it.

[fishbonez11]

Aside from this news, from the look of things, I feel like bitcoin will hit its ATH before the end of the year, yet again bitcoin halving brings another bull run.
What's are your thoughts about this guys?

It is possible that the price of bitcoin might hit a new all time high valuation before the end of this year but my mind is still telling that we might see a correction and the price would settle around $15k by the end of this year.

Exactly my thought, i feel like its going to happen what just happen last 2017. People have learned enough that time, and there might be something new to happen. Still can't predict what will be the behaviour of Bitcoin's price this year. But knowing that there more people coming in, we can still hope that there will be a new high this year. But as we see, for every high there is always a price correction. Bitcoin is so attractive for billionaires specially this season of time.

[The Cryptovator]

I have seen that news on the Cointelegraph telegram channel. If you observe bull markets, then you will notice that many bull news like this. We can say due to the current bull trend that investors had decided to invest his 10% liquid portfolio into bitcoin, which is another bull news, and most likely we have seen an effect on bitcoin price. I will say that person took the right time decision although I believe he should invest more earlier.

That's crypto, when bitcoin will be in bear mode, then you will see many bear news. And when Bitcoin is in bull mode, you will see many bull news.

[lifeforcepools]

More and more rich people are investing in crypto. I'm sure of it. But for some reason, many people hide this from the public.

[NeuroticFish]

But for some reason, many people hide this from the public.

There are a lot of possible reasons for that, depending on the country they're from, for example:

* they want to buy more and don't want to create hype that'll make them pay more for it
* the invested money may not be 100% pristine
* they don't want IRS ask too many questions based on badly/incompletely written laws (they may declare as "other investments")
* they don't want to become targets for ransom/thieves (the 5$ wrench story)

[Mahdirakib]

Though he isn't new to bitcoin but it's really good to hear that he have invested 10% of his liquid portfolio in bitcoin. Maybe there are more billionaire who invested in bitcoin recently but haven't said anything publicly. It attracts a lot of new people attention in btc while this kind of news spreads publicly. Pliego made his first investment in btc four years ago.

The Bitcoin billionaire bandwagon has another representative in the likes of Mexico’s second-wealthiest man – Ricardo Salinas Pliego. He recently highlighted the problems with fiat currencies, especially in Latin America, and clarified that his first BTC purchase came four years ago.

Source:: After Buying Bitcoin at $800 in 2016, Mexico’s Second-Richest Man Doubles Down

[daarul50]

We are getting more people to invest in bitcoin and it's gaining more attention nowadays which I can say is a good thing for us. And the fact that he invested 10% of his liquid portfolio means he has a trust in bitcoin that it will do well in the next coming months or years. If this will continue, it can also attract other people but I just hope that these people who are keeping their eye on bitcoin to invest should know how the market works and how to deal with it.

There is bad and good thing about this.
The good thing is that those billionaire did really drive the market into a positive moves.
Of corse they have a big influence as they splash a lot of money not only thousands dollar but millions!
And the bad thing that should concern each of us is that this kind investor wontstay forever, they wont stay for long enough as whenever they see it is enough, they could dump it all at once without thinking thercould be a serious damage caused.

[Ratash]

If he invested at this time it means that he must be newbie in crypto world because the bitcoin now is just getting back at its former value of 2018 and for btc to grow more some new developments must occur in order to achive the true potential of bitcoin but i do not think it will be soon in that case he has to hold it for a while.