Latin Millionaires Love to Invest in Bitcoin and Tell You Their Reasons

Many Latin American entrepreneurs are investing more money in Bitcoin (BTC) than experts recommend. They admitted this on the second day of the Bitcoin 2022 agreement that took place today in Miami, where they explained their reasons for holding such large holdings in the cryptocurrency.

One of them was the Bolivian businessman in the distribution industry, Marcelo Clore, who said that we have never had such high levels of inflation in the world as now, with figures of 7.9% in the United States or 8.5% in Europe. That’s something he worries about because he thinks, like other professionals mentioned on CriptoNoticias, it could quickly turn into a slump. No decrease in economic activity.

Clore reports that the US government has made notable increases in interest rates, which it recognizes will slow the country’s economy. That’s why he reveals that he made the decision Extend the recommended level of Investing in cryptocurrencysuch as Bitcoin, from 2% to 10%.

Despite the fact that various institutions advise not to invest more than 2% of their savings in cryptocurrencies due to their high volatility, Klor decided to go for more. “We are starting to see bitcoin as one of the safest ways to hold our wealth,” he said.

He also cautioned that more importantly, bitcoin is probably the only investment out there today. I think since then The potential profits which are allowed much greater than those that can be created by another originGold, including gold, could be a safe haven if it stays strong in an economic downturn.

Marcelo Clore revealed that he will focus his work on the Bitcoin revolution. Source: Bitcoin Magazine / YouTube.

Millionaires See Bitcoin as the Best Investment

Clore revealed during the conference that three months ago he left his position as director of operations at the SoftBank communications company, where he has been working since 2017, after he founded and managed other companies. This is in order to learn more and put all your knowledge into this The new context in which we live, which we like to call the “Bitcoin Revolution”«.

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To this, the millionaire from Mexico, Ricardo Salinas Pligo, who owns Electra supermarkets and companies of various sectors, added that He devotes 60% of his investment portfolio to Bitcoin. He explained that this ratio is in cryptocurrency specifically, and not in derivatives. The remaining 40% is invested in other types of assets such as gas and oil.

“It’s not that you invest 100% in bitcoin, but that you start from scratch,” Salinas said, noting that at least a portion of the savings is put into bitcoin. He stressed that for the rest of his portfolio, he doesn’t invest anything in bonds because he thinks they are a terrible investment asset. This is because he says that they do not generate much returns to be viable and he is afraid that they will come to them for a good pension in the future.

Ricardo Salinas Bligo and Michael Saylor at the Bitcoin 2022 conference.
Billionaire Ricardo Salinas Plego met Michael Saylor at the Bitcoin 2022 conference, one of the biggest proponents of cryptocurrency, who owns Microstrategy, a software company that stores its reserves in cryptocurrency. Source: RicardoBSalinas / Twitter.

This has propelled Ricardo Salinas Blego to become an outstanding defender of Bitcoinas Michael Saylorwho was able to meet him during the 2022 Bitcoin Agreement in Miami.

Michael Saylor is one of the biggest enthusiasts of cryptocurrency. He is the owner of Microstrategy, a software services company based in Argentina and other countries that stores its reserves in BTC, and thus is the listed company with the largest number of bitcoins in the world.

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