Key Takeaways
- Mexican billionaire Ricardo Salinas now holds 70% of his portfolio in bitcoin.
- Salinas first bought bitcoin at $200 and has steadily increased his holdings.
- He described bitcoin as the 'hardest asset in the world' and urged investors to buy.
Mexican billionaire Ricardo Salinas has revealed that 70% of his investment portfolio is now allocated to bitcoin-related assets, a significant jump from the 10% he held in 2020.
Commitment to Bitcoin
Speaking with Bloomberg on March 4, the Grupo Salinas chairman said he is “pretty much all in” on bitcoin, with the remaining 30% invested in gold and gold miners.
Salinas stated:
That’s it. I don’t have a single bond, and I don’t have any other stocks.
Early adoption & growth
Salinas, who has a net worth of $4.6 billion, first bought bitcoin at $200 around 12 years ago after being introduced to it by former Grayscale CEO Barry Silbert.
His bitcoin allocation reached 60% by 2022 before climbing to its current level.
Bitcoin as the hardest asset
He described bitcoin as the “hardest asset in the world” and urged investors to accumulate it over time.
Emphasizing bitcoin’s fixed supply cap compared to gold’s annual production increase of 3%, he said:
Buy everything you can. It’s not going to go anywhere except up.
Advocacy for Bitcoin in Mexico
Salinas has long been an advocate for bitcoin adoption in Mexico.
Since 2021, he has attempted to integrate bitcoin into Banco Azteca, a subsidiary of Grupo Salinas, though regulatory hurdles have prevented the move.
