In a bold declaration of confidence in Bitcoin’s future, Mexican billionaire Ricardo Salinas has revealed that 70% of his investment portfolio is now allocated to Bitcoin-related assets. This staggering shift shows his deep conviction in BTC as the ultimate store of value, outpacing traditional investments like gold and bonds.
Speaking to Bloomberg on March 4, Salinas, the founder and chairman of Grupo Salinas, made it clear that he is “pretty much all in” on Bitcoin. The remaining 30% of his portfolio is allocated to gold and gold mining stocks, a significant departure from traditional billionaire investment strategies.
“That’s it. I don’t have a single bond, and I don’t have any other stocks,” Salinas stated, emphasizing his complete rejection of traditional financial assets.
Notably, his Bitcoin allocation does not include the shares he holds in Grupo Elektra SAB de CV, which boasts a $3.64 billion market cap, according to Google Finance data.
Why Salinas Sees Bitcoin as ‘The Hardest Asset in the World’
Salinas, who has a net worth of $4.6 billion, has been a vocal Bitcoin advocate for years. He first allocated 10% of his liquid portfolio to Bitcoin in 2020 before increasing it to 60% by 2022. Now, with 70% exposure, he is doubling down on his belief that BTC is the hardest form of money ever created.
“Buy everything you can. It’s not going to go anywhere except up because the dynamics are such that it is the hardest asset in the world,” he urged investors.
Salinas argues that Bitcoin’s fixed supply of 21 million coins makes it even scarcer than gold, which experiences an annual inflation rate of approximately 3% due to mining production.
From Early Adoption to Full Commitment
Salinas’s Bitcoin journey began over a decade ago, when he was introduced to the digital asset by former Grayscale CEO Barry Silbert in 2012 or 2013. At that time, he made his first Bitcoin purchase at just $200 per coin a move that has since turned into a massive return on investment.
At the Bitcoin 2022 Conference, he revealed his growing conviction in BTC, stating that the asset’s fundamentals were superior to traditional finance. This conviction has only strengthened, leading to his current dominant portfolio allocation.
Despite his strong personal stake in Bitcoin, Salinas has faced hurdles in integrating BTC into Mexico’s financial system. Since 2021, he has sought to make Banco Azteca, a subsidiary of Grupo Salinas, the first Mexican bank to accept Bitcoin. However, he has met regulatory resistance from Mexican financial authorities, which have been slow to embrace cryptocurrency.
Even with these obstacles, Salinas remains unwavering in his mission to push for greater Bitcoin adoption in Latin America.
What This Means for Bitcoin’s Future
Salinas’ massive 70% Bitcoin allocation sends a strong signal to institutional investors and high-net-worth individuals considering BTC as a hedge against inflation and monetary instability. As more billionaires and financial leaders publicly endorse Bitcoin, it could accelerate mainstream adoption and further drive demand.
With central banks continuing to print money and global financial instability on the rise, Salinas’ bet on Bitcoin may not be just a personal conviction but a glimpse into the future of wealth preservation.
The question now is: Will other billionaires follow his lead, or will they be left behind as Bitcoin continues its ascent?
