Mexican Billionaire Ricardo Salinas Allocates 70% of His Wealth to Bitcoin

• Ricardo Salinas now holds 70% of his portfolio in Bitcoin and Crypto-related assets.
• Salinas rejects bonds and external stocks, focusing on Bitcoin and gold investments.
• Salinas plans to make Banco Azteca the first Mexican bank to accept Bitcoin.

Mexican billionaire Ricardo Salinas increased his investment by allocating 70% of his liquid portfolio to Bitcoin and Bitcoin-related assets. In a recent interview with Bloomberg News, the billionaire revealed these portfolio changes by focusing on investment assets he believes are durable. Salinas holds an estimated net worth of $5.8 billion while leading Grupo Salinas, which operates telecommunications, media and retail. His recent Bitcoin investment represents a substantial growth from his prior disclosure of 10% in 2020.

Salinas’s confidence in cryptocurrency grows because he believes in its ability to protect against economic challenges. Through his investment strategy, he devotes 30% of his assets to gold mining companies, his businesses and gold investments. Notably, his investment approach excludes bonds and external stocks from his portfolio. “I don’t have a single bond, and I don’t have any other stocks except my own,” Salinas told Bloomberg highlighting his focus on “hardest assets”.

Bitcoin Advocacy Shapes Salinas’s Business Vision

Salinas maintains active support for cryptocurrency, as evidenced by his popular social media account on X, which has over 2 million followers. His cryptocurrency backing extends beyond his investments to his corporate business activities. Additionally, four years ago he suggested that his Banco Azteca subsidiary would become Mexico’s first institution to welcome cryptocurrency transactions through Grupo Salinas. His ongoing effort to implement this initiative demonstrates his dedication to decentralized finance.

Bitcoin’s price at press time shows rapid changes as the announcement emerges. The cryptocurrency has experienced a significant 42% price growth since September 2024 despite its 17% decline during the month. Donald Trump’s election win in November 2024 is one of the events supporting the cryptocurrency’s price increase. 

BTC Price chart Source; Tradingview

Salinas believes Bitcoin safeguards economic stability which is reflected in his recent decision based on years of similar advocacy. His beliefs originate from skepticism toward fiat currencies and centralized financial systems. Concerns about inflation and currency devaluation which affect Latin American economies, resonate with Salinas’ strategy since he has chosen both Bitcoin and gold to protect his wealth. 

The Bitcoin investment practices of institutions such as Strategy, which now hold over 499,000 BTC, mirror a wider market trend.

Grupo Elektra Delisting Amid Legal Challenges

The disclosure of Salinas’s corporate financial adjustments matches his decision to remove Grupo Elektra from the public markets. Salinas seeks operational independence in his company through delisting from stock markets to avoid shareholder controls. However, Grupo Elektra faced its toughest period recently after stock prices dropped 70% last year, resulting in a nearly $5 billion loss from Salinas’ fortune. Salinas also faces legal battles with the Mexican government concerning allegations of unpaid tax payments.

Despite encountering obstacles he displays positive prospects. According to Salinas the companies belonging to his business portfolio continue to perform well despite facing adversity. With his notable Bitcoin investments alongside gold purchases the executive holds leadership status in cryptocurrency industries across Latin America.  Moreover, the increasing adoption of Bitcoin since September 2024 could influence similar cryptocurrency investments from regional businesses and investors across Latin America.