As the cryptocurrency industry matures, more people are jumping on the bandwagon, including multi-billionaires such as Ricardo Salinas Pliego, who has recently shared that he only had investments in Bitcoin (BTC), business intelligence platform MicroStrategy, several Bitcoin mining companies, oil enterprises, and gold miners.

Specifically, the Mexican billionaire and founder of the Grupo Salinas corporate conglomerate of several Mexican companies opened up about his investment portfolio and interest in Bitcoin, giving the most credit to Saifedean Ammous and his book ‘The Bitcoin Standard,’  in a podcast interview with Natalie Brunell streamed on September 7.

On ‘The Bitcoin Standard’

According to Salinas’s detailed account, Ammous’s book gave him a good introduction and clear breakdown of money, as well as the advantages of the flagship decentralized finance (DeFi) asset over traditional finance, including the lack of room for manipulation or any kind of abuse by the authorities or financial institutions. As he explained:

“I have to give credit to my friend Saifedean Ammous because of his book, ‘The Bitcoin Standard.’ He really spelled it out. What he did was put together in one small book all the things about Bitcoin, the history of money, how it evolved, and how it’s been abused by the government, and now how this thing cannot be abused, it’s a Bible.”

As a reminder, Ammous’s book provides an in-depth analysis of the historical context that has facilitated the birth and rise of Bitcoin as an alternative to traditional money, as well as its economic, social, and political effects, and Salinas has been a fan for a while, even recommending it on his social media channels, next to Sun Tzu’s ‘The Art of War’ and Ayn Rand’s ‘La rebelión de Atlas’ (eng. ‘Atlas Shrugged’):

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Meanwhile, Salinas’s favorite cryptocurrency was at press time changing hands at the price of $25,936, recording a 0.57% increase in the last 24 hours and gaining 0.74% across the previous seven days while still recording losses of 11.79% on its monthly chart, as per the data retrieved on September 13.

Watch the entire video below:

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post Mexican multi-billionaire reveals why he’s all-in on Bitcoin appeared first on Finbold.

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Dennis is a business and financial writer, who had spent almost his entire life independently reporting on different business ventures with major impact on the US and global economy. Dennis places a special focus on examining tech stocks, biotech stocks all while investing a great part of his early hours to researching and writing on the companies in the US markets. Dennis has 15+ years of experience in financial markets.