Ricardo Salinas Pliego – the third-wealthiest person in Mexico – revealed he had allocated 60% of his liquid portfolio to bitcoin and bitcoin equities. The billionaire is a strong opponent of fiat currencies and bonds, calling the latter a “terrible investment.”
Salinas is Pro-Bitcoin and Anti-Fiat
Chairman of Grupo Elektra and owner of Mexican multimedia conglomerate TV Azteca – Ricardo Salinas – reiterated his support for crypto at the ongoing Bitcoin conference in Miami. He admitted to having invested 60% of his wealth in the main digital asset and BTC shares. The remaining 40% belongs to durable asset stocks such as gas, oil and gold mining:
“I definitely don’t have any bonds. I have 60% in bitcoin and bitcoin equities and then 40% in hard-asset stocks like oil and gas and gold miners, and that’s where I am.”
It should be noted that in 2020, Salinas indicated that 10% of its portfolio was in BTC, while the remaining 90% was divided into various precious metals.
The Mexican is among the biggest critics of fiat currencies. In his view, people should avoid the US dollar, the euro, and any other type of national currency as otherwise, they risk being controlled by governments. “Stay away from fiat money, invest in BTC,” he advised.
Salinas and Bitcoin over the years
The Mexican has been a strong supporter of the leading cryptocurrency for years now. He made his first purchase of BTC in 2016 when the price of the asset was trading at around $800. In 2020, he urged investors to focus on bitcoin, arguing that it is a much better investment vehicle than “worthless” paper money.
Last summer, he described the asset as the “gold of the modern world.” He outlined that BTC is finite, easy to transport, and enjoys extreme liquidity. As such, Salinas opined every investor should own it:
“Bitcoin is an asset that has international value, that is traded with enormous liquidity around the world. For this reason, it should be in any wallet.
Shortly after, the Mexican said he had spent a lot of time studying the merits of bitcoin. Certain about its future development, he vowed to hold the asset for the next 30 years.
