Elon Musk as role model: third richest man in the world writes #Bitcoin in Twitter bio
Mexican billionaire Ricardo Salinas Pliego has taken a cue from Elon Musk and added the bitcoin hashtag to his Twitter bio. His profile now reads „Mexican businessman #Bitcoin“.
Pliego revealed last year that he holds 10 percent of his liquid assets in the leading Crypto Trader cryptocurrency. Around that time, he posted a video showing thousands of Venezuelan bolivars being thrown in the trash – with the caption: „This is inflationary expropriation!“
Bitcoin continues to gain momentum
This year has seen a flurry of high-profile figures championing the number one cryptocurrency. Musk, arguably the best-known figure, has been joined by a number of others.
Russell Okung of the Carolina Panthers went full Bitcoin in late January with a tweet stream commenting on the benefits of owning it. He also added Bitcoin (To buy bitcoin cheap guide) to his Twitter bio and urged his followers to do the same.
Several celebrities followed suit, including singer-songwriter Joy Villa, YouTuber Mr Beast, Sofia Hayat, Reddit co-founder Alexis Ohanian and many others.
But Mexico’s third richest person has now belatedly joined the movement. Ricardo Salinas Pliego is ranked by Forbes as the 171st richest person in the world. He has an estimated net worth of $13.7 billion.
Pliego is the founder and chairman of the corporate conglomerate Grupo Salinas. The group’s interests include telecommunications, media, financial services and retail.
Despite his vast fortune, Pliego has expressed concern about the pursuit of reckless monetary policies.
Is Musk in trouble with the Securities and Exchange Commission?
Tesla announced last week that it would buy $1.5 billion worth of Bitcoin. In the run-up to the announcement, the Tesla CEO was active on Twitter, posting about Dogecoin and Bitcoin.
One such incident, where he added #Bitcoin to his Twitter bio, led to a price increase of almost $8k. The „Elon candle“, as it is known, drew criticism from several observers – including Nouriel Roubini, who accused Musk of market manipulation.
Doug Davison, a former division chief at the SEC, agrees that Musk’s actions warrant SEC intervention.
„It wouldn’t be surprising – given the focus on the chief executive’s tweets, bitcoin prices and recent dramatic market moves – that the SEC would ask questions about the facts and circumstances here.“
Musk is familiar with SEC sanctions. It previously sued him over his tweets about taking Tesla private – which would have violated securities law.
He has since removed any mention of Bitcoin from his Twitter profile.