Four main arguments for purchasing bitcoin have been put up by Mexican millionaire Ricardo Salinas: diversity, long-term growth potential, and defense against inflation and currency depreciation. In addition, he gave the following advice: “You have to know how to invest and be patient; don’t get excited when the market rises and sell, and don’t get scared when it falls.”
Billionaire Ricardo Salinas Explains Why Bitcoin Is a Good Investment
On social networking platform X on Monday, Mexican billionaire and Grupo Salinas chairman Ricardo Salinas, who is well-known for supporting bitcoin, shared his thoughts on the recent spike in cryptocurrencies. He provided advice on investing in bitcoin and outlined four arguments in favor of investors considering Bitcoin purchases.
Just imagine that you are fresh out of college and have just received your first paycheck. He wrote on X, “You have multiple options regarding how to invest or spend that money” (Google translation). He explained that the first option is to “Spend it now on any stupid thing.” The next step is to “Learn to invest” in “something like bitcoin,” which he described as “easy to buy, store, and with no minimum required to start investing.” The third option is to “Save it in a traditional bank like Banco Azteca.”
The billionaire went on to list four reasons why bitcoin is a wise investment for investors. He began by highlighting the “long-term growth potential” of bitcoin, indicating an investment horizon of at least ten years. According to Salinas:
Investing in bitcoin is similar to placing a wager on a young, potentially lucrative business. Bitcoin has grown remarkably since its introduction, exceeding many other investment kinds in terms of returns despite being risky and volatile. It’s a chance to participate in a cutting-edge technology that could completely transform the world financial system.
“Ease of access and liquidity” is his second motivation for investing in bitcoin. He said that bitcoin can be bought and sold in any amount virtually instantly using internet platforms, in contrast to other traditional assets like real estate or specific funds that need a long-term commitment and might be challenging to sell rapidly. He stressed, “This gives you flexibility and access to your money when you need it, but it also means that it’s simple to respond rashly to market swings.”
“Diversification of the investment portfolio” is the third justification. As an example of why it’s important to diversify your finances, Salinas noted that “investing in bitcoin can be a simple and quick way to do so.” “Cryptocurrency can be a good way to reduce risk because it often doesn’t follow the same trends as the stock or bond markets,” the speaker continued.
“Protection against Gobiernicolas [governments] nonsense, such as inflation and currency devaluation” was Salinas’ final justification. The millionaire expressed his opinion as follows: “Bitcoin is positioned as an alternative with a limited maximum supply (only 21 million will be created), in response to worldwide worries about inflation and the devaluation of traditional currencies. In contrast, governments can produce fiat currencies indefinitely, which could eventually cause their value to decline.
He advised investors to buy bitcoin, but he also warned them of its hazards, which include short-term volatility and unpredictability in the regulatory landscape.
He provided a method in another X post on Monday for investors to profit from long-term rises in the price of Bitcoin, saying:
To invest successfully, one must possess patience, know when to buy when the market is down, and know when to sell when it is up.
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