Thiago Nigro, better known as Primo Rico, is still an investor in the cryptocurrency market and revealed that he still has a 1 million reais position in his investments with cryptocurrencies.
As revealed through his stories on Instagram this Monday (20), Thiago Nigro said the sum represents 7.45% of his total investments.
In addition to cryptocurrencies, Thiago Nigro says his public portfolio includes equities, BDRs, investment and real estate funds, retirement plans, prepaid fixed income and direct treasury.
Jokingly in his post, he said that “when the world ends,” he will still have his cryptocurrencies as protection.
“7.45% of my wallet is in Crypto. If the world ends, I will have R$ 1 million to survive.”
Cryptocurrencies as asset protection in crises
With the banking crisis worrying about the short and long term health of the dollar, many investors began to look for equity protection solutions.
That is because the Fed, the US central bank, has indicated that it will rescue the banks by printing new money in the rescue process. With that, there is concern that the country’s money could lose value, a financial misfortune that could create a domino effect around the world.
For example, with the devastation of the dollar, many countries that have reserves of value with the currency would be in trouble. In addition, global commerce using the USD as a standard should find a new way to securely exchange goods.
In this context, cryptocurrencies’ biggest fans believe that decentralized currencies that do not rely on governments can gain momentum. The most important is bitcoin, a digital currency that has skyrocketed in value with the US banking crisis in 2023.
In recent days, bitcoin has once again approached $30,000 and jumped against the dollar in recent days.
Primo Rico, a publicly traded bitcoin investor, is another believer that the currency serves as a hedge in the eventual financial collapse of traditional assets.
sorry with bitcoin
Primo Rico, a bitcoin investor since 2014, revealed that his “biggest mistake was selling Bitcoin in 2014” because he was scared when he observed the currency’s volatility.
If it had kept the equity it acquired then, it would have made returns thousands of times over today. This is because each bitcoin cost only US$314.00 per unit at the time of purchase, a far cry from its current price of US$27,700.00. Primo Rico never revealed how much he bought and sold at the time.
Apparently, in nearly a decade, he has stopped fearing bitcoin’s volatility and is today relying on the success of the digital currency for part of his future.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
