Mexican Billionaire Salinas Commits 70% of His Wealth to Bitcoin

Mexican billionaire Ricardo Salinas reveals that 70% of his liquid investment portfolio is now in Bitcoin and Bitcoin-related assets. With an estimated net worth of $5.8 billion, Salinas, one of Mexico's most prominent business magnates, shared this update during a recent interview with Bloomberg.  The announcement indicates a massive upgrade from his earlier allocation of 10% to Bitcoin in 2020, confirming his growing confidence in the pioneering crypto asset as a reliable destination for wealth preservation. Salinas Attracted to Bitcoin Salinas, who heads the sprawling Grupo Salinas conglomerate—including ventures like TV Azteca and Total Play Telecomunicaciones—explained that his portfolio now consists primarily of Bitcoin , gold, stakes in gold mining companies, and shares in his own businesses.  Interestingly, his portfolio is devoid of traditional investments like bonds or stocks outside his enterprises. "I don't have a single bond, and I don't have any other stocks except my own," he stated, stressing his departure from conventional financial instruments.  According to the billionaire, the remaining 30% of his liquid assets is invested in gold and gold miners, assets he views as reliable complements to Bitcoin's potential. Salinas has been a vocal advocate for Bitcoin and has long championed its value as a protection against inflation and fiat currency volatility, these concerns are particularly relevant in Latin America, where economic instability has historically challenged wealth preservation.  His journey with Bitcoin began years ago, and he has since leveraged his platform, boasting over 2 million followers on X, to promote the cryptocurrency. Last month, he spotlighted Strategy Chair Saylor's prediction of a BTC rise to $13 million. https://twitter.com/RicardoBSalinas/status/1892327232862826993 Notably, Salinas has even hinted at ambitions to integrate Bitcoin into his banking operations, once stating he aimed to make Banco Azteca the first Mexican bank to accept it. However, this vision is still unfolding at press time. Salinas' bold reallocation comes amid a broader surge in Bitcoin's price. Despite a 17% decline last month, Bitcoin is still up 42% since September 2024. In November alone, the asset surged 37.32% on the back of Donald Trump's election victory. Bitcoin Adoption Gains Momentum Salinas is not alone in his enthusiasm for Bitcoin. This appetite for the premier crypto asset has grown among institutions and individual investors.  Strategy (formerly MicroStrategy), a business analytics firm led by Michael Saylor, stands out as a corporate pioneer, holding over 499,000 BTC worth $41.28 billion as of press time. The firm confirmed plans to buy more $42 billion worth of BTC through 2027 and has persistently purchased more tokens nearly every week.  Other firms like Japan's Metaplanet have also shown a similar interest in BTC. Notably, Galaxy Research forecasts Bitcoin could hit $185,000 in 2025, driven by this rising adoption among institutions, corporations, and even nation-states like El Salvador.