Mexican Billionaire Ricardo Salinas Has 70% Of His Wealth In Bitcoin

Ricardo Salinas Pliego, a Mexican billionaire and founder of corporate conglomerate Grupo Salinas, has recently revealed that a massive chunk of his liquid portfolio is in Bitcoin (BTC) and BTC-related assets.

With an estimated net worth of $5.8 billion, Salinas is the third-richest man in Mexico and among the top 200 richest people in the world.

A Case For Bitcoin In A Portfolio

Despite falling prices, Salinas is incredibly bullish about the world’s largest cryptocurrency.

Ricardo Salinas told Bloomberg that 70% of his liquid investment portfolio is in Bitcoin. The remaining 40% consists primarily of gold, stakes in gold mining firms, and shares in his own businesses.

“I’ve got about 70% in Bitcoin-related exposure and 30% in gold and gold miners,” Salinas quipped. “I don’t have a single bond and I don’t have any other stocks except my own.”

The 70% figure is up from 2020, when the business magnate revealed 10% of his portfolio was in Bitcoin — saying at the time that the asset “protects the citizen from government expropriation.” 

Upping his holdings highlights his increasing confidence in Bitcoin as a reliable asset for wealth preservation.

Salinas And Bitcoin: A Likely Match

Salinas has long been a Bitcoin advocate. In October 2020, the cloud computing expert turned Bitcoin bull shared a list of book recommendations, including The Bitcoin Standard, by economist Saifedean Ammous. 

Not long after, he admitted he held Bitcoin in his portfolio. And then the billionaire fell deeper into the Bitcoin rabbit hole and changed his Twitter bio to include the world’s largest crypto by market cap.

Salinas has since talked about Bitcoin frequently on social media, even encouraging his Twitter (aka X) followers in a December 2021 New Year message to avoid fiat and invest in Bitcoin. 

The price of Bitcoin leaped to as high as $94,770 on Sunday after Trump’s announcement for a United States crypto strategic reserve. However, the asset slipped below $82,000 earlier today as President Trump’s 25% tariffs on Mexico and Canada took effect. At the time of publication, the apex crypto had rebounded to $89,742.