The Third Richest Mexicans Advises Followers To Buy Bitcoin When The Price is Low

Ricardo Salinas Pliego made a tweet on Saturday, advising his followers to buy Bitcoin and not sell. He said that those who would do that would have reasons to thank him.

Ricardo Salinas Pliego, the Mexican billionaire who has shown interest in Bitcoin, has advised people to buy bitcoins and not sell. Pliego, who is worth some $13 billion according to Forbes said that anyone who buys Bitcoin when the price is low and never sells as he suggested, would have reasons to thank him later.

Pliego is the chairman of Grupo Salinas, which has interest and investments in communications, retail chain, media and financial services.

The Saturday, February 19 tweet was retweeted more than 500 times and liked more than 2000 times. In the full tweet, he wrote:

“You have to buy #bitcoin (keep buying when the price is low), then just hold your #btc, forget about selling… trust me you’re going to thank me later”.

Whale Increase Their Bitcoin Stash When You Sell

The tweet was a retweet of a Bitcoin Magazine article that advised people to stop selling their bitcoins to whales. These are individuals or entities that already hold thousands of bitcoins. The idea that the magazine tries to project is that Bitcoin whales are progressively increasing their stash when people sell their bitcoins.

Whales are aware that the cryptocurrency has limited supply and that over time, those that hold most of the coins will be immensely rich. So they’re taking advantage of dips when many holders panic and sell to increase their holdings. There has even been insinuations that the market could have been manipulated in the early days, especially if there was a network of whaled that are in contact, one with another.

Another Market Dip?

Bitcoin lost half of its value last January after dropping to $33,000 from an all-time-high of $68,000. The dip gave many investors the window opportunity to invest in bitcoin with companies such as the Nafdaq-listed Microstrategy investing.

Last July, Salinas lent support to Bitcoin by stating that it has properties that are similar to gold and implied that it is a modern form of the metal. Bitcoin is trading around $37,500 days after nearing the $45,000 value.

 

 

Author: Jofor Humani

Jofor is a crypto journalist with passion for investigative review of projects with the aim to determine the authenticity of their claims.