Mexican billionaire Ricardo Salinas, founder and chairman of Grupo Salinas, has significantly increased his Bitcoin holdings, now dedicating 70% of his investment portfolio to Bitcoin-related assets. This marks a substantial rise from the 10% allocation he reported in 2020.
In an interview with Bloomberg on March 4, Salinas stated he is “pretty much all in” on Bitcoin, with the remaining 30% of his portfolio invested in gold and gold mining stocks.
“I don’t own a single bond or any other stocks,” he emphasized.
It’s worth noting that this 70% allocation likely does not include his holdings in Grupo Elektra SAB de CV, a company under Grupo Salinas with a market cap of 75.15 billion Mexican pesos ($3.64 billion), according to Google Finance data.
Salinas praised Bitcoin as the “hardest asset in the world,” highlighting its fixed supply and encouraging long-term investors to dollar-cost average—buying Bitcoin gradually over time.
“Buy everything you can. Bitcoin is only going up because its fundamentals make it the hardest asset in the world,” Salinas asserted. “Even gold inflates at about 3% per year due to mining, but Bitcoin doesn’t. Never sell it.”
Salinas, whose net worth stands at $4.6 billion, has been steadily increasing his Bitcoin exposure since first disclosing a 10% allocation in November 2020. By April 2022, at the Bitcoin Conference, he revealed that his holdings had jumped to 60%.
During the conference, Salinas recounted how former Grayscale CEO Barry Silbert introduced him to Bitcoin around 2012 or 2013, leading him to make his first investment when Bitcoin was priced at just $200.
Since at least 2021, Salinas has been working to make Banco Azteca, one of Grupo Salinas’ subsidiaries, the first Mexican bank to accept Bitcoin. However, he has faced regulatory hurdles in that pursuit.
His latest Bitcoin-focused statements coincided with his decision to separate Grupo Elektra from Grupo Salinas, giving him greater autonomy over its operations.
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