The second richest man in Mexico, Ricardo Salinas Pliego, has dubbed bitcoin as one of his best investments ever. The early-stage bitcoin billionaire told Cointelegraph that he started buying the digital asset back in 2013 when the price was only $200. It turns out that his gamble paid out.
Pliego who is the founder and chairman at Grupo Salinas noted that he first heard about the digital asset at a conference organized by SAP in 2013. According to him, a rep from Grayscale highlighted the game-changing prospect of bitcoin. In fascination, Pliego invested some money into Grayscale’s asset management services.
He tracked his portfolio until the price rose to $500 where he purchased more. As an avid investor, Pliego capitalized on the price actions of bitcoin. Basic investing tip 101 – buy the dip and sell the high. He said during his interview that he sold some of his assets when the price hit $17,000 and later bought some more when it dipped. The investor is looking at holding for the next five to ten years.
Pliego commenting on his major attraction to bitcoin said:
A digital asset that can be traded freely across the world. I think that’s the most powerful thing.
Currently, he sees bitcoin as a solid store of value.