When we first mentioned Ricardo Salinas Pliego in November 2020, he was Mexico's second richest person. Today, he's said to be the third-richest one. Is this sudden sway of fortune due to Pliego’s unfaltering endorsement of Bitcoin? This is hard to say.
Yet, the man himself seems determined to continue his support of Bitcoin, with the Mexican mogul and chairman at Grupo Salinas, a conglomerate, plumping hard for BTC all the same.
The latest stroke of endorsement comes from Pliego's Twitter account which will now feature a permanent BTC hashtag as a form of unambiguous support for the token and its potential.
But how committed is Pliego to Bitcoin? Last year he vowed to invest 10% of his liquid portfolio in Bitcoin and keep it locked in, expecting a big return.
He is already seeing a profit off of it, as his purchase was made long before Bitcoin began its blazing climb to the top, breaking the $40,000 price tag.
Having Pliego show interest is important for the currency, as it offers Bitcoin a level of stability. Because the currency lacks backing from a central bank, it largely depends on shifts in liquidity or – at the very least – who's backing it.
The currency's latest ascent – its giddiest yet – began with PayPal confirming that it would allow Bitcoin and other cryptocurrencies to be traded via its e-wallet platform. And, while many mainstream investors are still doubtful, people such as Pliego himself, are confident in investing a fair bulk of their portfolio into the digital gold.