The third richest man in Mexico and technology enthusiast, Ricardo Salinas, praised the characteristics of Bitcoin as an investment asset against gold.
Bitcoin is an investment asset that can be bought, sold and transported more easily than gold, explained Ricardo Salinas Pliego, the third richest man in Mexico, during an interview with writer Pascal Hugli. Salinas shared the answers given during the interview with Hugli on his Twitter account, indicating that gold is a much more difficult investment asset to transport and store, in addition to noting that he believes that the price of the precious metal is “easily manipulated by central governments around the world.
The owner of Banco Azteca and the Elektra store chain specified that the characteristics of Bitcoin, which can also be stored easily, safely and at almost no cost for most users, make it a “wonderful” global alternative asset, which It is traded 24 hours a day, 7 days a week on different exchange platforms around the world.
Salinas also indicated that, despite its great characteristics and advantages over gold, the governments’ ignorance and lack of understanding of its innovative, immutable and transparent technology is what has led some governments to lag behind this digital asset, and even prohibit it, as in the case of China.
“Governments do not know the importance of its price compared to the price of gold. So they haven’t taken it into account.”he explained.
At the end of 2020, Salinas revealed that he keeps close to 10% of his assets invested in Bitcoin, in order to get away from the nefarious actions of central banks and governments. In the past, he has pointed out that the cryptocurrency world leader by capitalization is one of the best ways to diversify an investment portfolio to protect itself from the devaluation of fiduciary currencies that are “worthless”. Its chain of stores Elektra became the first large chain in Mexico to accept payments with Bitcoin (BTC).
It may interest you: Elektra, a Ricardo Salinas company, begins accepting payments in Bitcoin
Bitcoin vs Gold: Portability, transparency and much more
As Salinas has defended, Bitcoin has multiple characteristics that make it more attractive and useful than gold. First of all, being a completely digital asset, can be easily stored and transported everywhere. Also, thanks to the properties of blockchain technology, which supports its operation and development, Bitcoin is an asset highly transparent and trustworthy. The blockchain It is an innovative and immutable technology capable of keeping a unique and detailed record of all operations that occur with BTC within the network, guaranteeing trust and transparency at all times.
In addition to this, Bitcoin is not only an investment asset, but also an alternative financial system and a cryptocurrency of global order. Among its many other characteristics and advantages over gold, the fungibilitythe durability and the divisibility. Also, do not forget that it is a cryptocurrency decentralized, limited and programmable.
Learn with Bit2Me Academy: If you want to know the advantages of Bitcoin against gold and the euro, visit the article Bitcoin vs Euro vs Gold Which will be more useful for us?
Scarcity and volatility
J. P. Morgan, one of the largest financial institutions in the United States and the world, highlighted in the middle of last month that the digital scarcity of Bitcoin is one of the main factors that drive its price in the market. In the past, JP Morgan has said that investors see this cryptocurrency as a better investment alternative than gold.
Although volatility is one of the most criticized aspects of Bitcoin today, for most of its investors it represents a unique opportunity. As an investment asset, gold is much more mature and stable, while Bitcoin’s fluctuations in value can be very useful in the long run. Since its birth in 2009, the value of Bitcoin has appreciated more than 400,000,000% and only in the last 2 years, the price of this cryptocurrency exceeded 200% annual growth.
The analysts of Goldman Sachsone of the world’s largest investment banks, also highlighted that the growth of Bitcoin could be exponential in the coming years, taking dominance away from gold in the reserve market.
At press time, Bitcoin is trading on the $38,600maintaining a market capitalization of 730.4 billion dollars.
IMPORTANT: Bit2Me News reminds you that before making an investment you should educate yourself and know where you invest your money, as well as the pros and cons of the system. Everything written here is for informational and educational purposes and should not be taken, under any circumstances, as investment advice or recommendations. We disassociate ourselves from the actions and consequences that ignorance may entail. If you decide to invest in this or another class of assets, you are solely responsible for the consequences that your decisions and actions may have.
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