Mexican billionaire Ricardo Salinas has increased his Bitcoin assets, revealing that the top cryptocurrency now accounts for seventy percent of his portfolio. Reflecting his growing belief in Bitcoin’s long-term worth, this figure is a clear rise from the 10% allocation he held in 2020.
Emphasizing that he is “pretty almost all in” on Bitcoin, Grupo Salinas founder Salinas discussed his investing approach in a recent interview. With his remaining thirty percent of his assets divided between gold and gold mining businesses, standard equities or bonds outside of his businesses have no place.
Salinas claims that, given its fixed quantity, Bitcoin is the strongest asset available—even more than gold. He said that although mining increases the supply of gold by roughly 3% yearly, Bitcoin’s maximum cap of 21 million coins guarantees scarcity, which he thinks would raise its value. What advice would he give to those involved in the business? Buy as much as you can; never sell.
Salinas started his Bitcoin adventure more than ten years ago when he bought his first coin for just $200 apiece. Ever since, he has been a strong advocate of cryptocurrencies, regularly calling for their acceptance in Mexico. One of his businesses, Banco Azteca, has even tried to be the first bank in the nation to endorse Bitcoin transactions. Regulating obstacles has made such an endeavor difficult, though.
Apart from his savings, Salinas is looking at calculated actions to further his dreams for Bitcoin. Grupo Elektra’s plans to delist imply he might be getting ready for a fresh strategy to negotiate financial rules and increase the importance of Bitcoin in Mexico’s economy.
Though the nation takes a wary approach to cryptocurrencies, Bitcoin is becoming popular with common Mexicans. Many use it for savings, purchases, and even ATM conversion into pesos. Figures like Salinas are mostly helping Bitcoin get closer to popular acceptance as interest in digital assets rises.
Salinas’s unwavering commitment to Bitcoin underscores his belief in its future, despite Mexico currently facing a critical decision regarding its regulation. One thing is evident regardless of official acceptance of digital money: Salinas is heavily betting on Bitcoin and is not looking back.
