Gold is experiencing a historic boom – its price has exceeded $4,300 per ounce and its market capitalization has reached $30 trillion for the first time. Nevertheless, Mexican billionaire Ricardo Salinas Pliego believes that Bitcoin has the potential not only to catch up with gold, but also to surpass it.
Gold reigns supreme, Salinas bets on Bitcoin
Over the past 12 months, the market capitalization of gold has grown by $10 trillion, representing an increase of 55%. Gold has thus confirmed its position as the world’s most valuable asset, ahead of tech giants and cryptocurrencies. Salinas Pliego has been investing in Bitcoin since 2013. Which he believes is the perfect form of wealth protection, while he considers gold to be a traditional but less dynamic asset.
Salinas, whose assets exceed $5 billion, holds approximately 80% of his wealth in Bitcoin and the rest in gold. His experience with the inflation of the Mexican peso in the 1980s led him to “hard money”. The belief that cryptocurrencies can offer better value protection than fiat currencies.
Bitcoin is preparing for a turnaround
Gold is now rising due to geopolitical tensions, record purchases by central banks, and fears of inflation. Even small investors are getting involved — for example, in Singapore and Australia, long lines are forming in front of gold and silver stores. Nevertheless, according to many, Bitcoin remains digital gold with long-term growth potential.
Bitcoin is currently declining in the short term, but large investors are taking advantage of the declines to buy. Salinas is convinced that Bitcoin will not only catch up with gold, but eventually surpass it. History shows that gold’s throne can be shaken, and digital currency can write a new chapter in value preservation.
