Mexican Billionaire Ricardo Salinas Goes “All In” on Bitcoin with 70% Portfolio Allocation

TLDR

• Mexican billionaire Ricardo Salinas has increased his Bitcoin exposure from 10% in 2020 to 70% of his portfolio
• The remaining 30% of his investments are in gold and gold miners
• Salinas first bought Bitcoin at around $200 twelve years ago
• He called Bitcoin the “hardest asset in the world” due to its fixed supply cap
• Salinas has been working to make his bank, Banco Azteca, the first Mexican bank to accept Bitcoin

Ricardo Salinas, the founder and chairman of Mexican conglomerate Grupo Salinas, has revealed that 70% of his investment portfolio is now allocated to Bitcoin-related assets. This marks a substantial increase from the 10% allocation he reported in 2020.

In a recent interview with Bloomberg on March 4, Salinas stated he is “pretty much all in” on Bitcoin. The remaining 30% of his investments are in gold and gold mining companies.

The Mexican billionaire emphasized that he holds no bonds or other stocks apart from shares in his own companies. His company, Grupo Elektra SAB de CV, has a market cap of 75.15 billion Mexican pesos, equivalent to about $3.64 billion.

Salinas referred to Bitcoin as the “hardest asset in the world.” He pointed to Bitcoin’s fixed supply cap as a key advantage over other assets, including gold.

“Not even gold is this hard. Your gold gets inflated at about 3% a year through additional production from mines. Bitcoin doesn’t,” Salinas explained in the interview.

The billionaire recommended that investors use dollar cost averaging to buy Bitcoin. This means purchasing small amounts over a longer period.

“Buy everything you can. It’s not going to go anywhere except up because the dynamics are such that it is the hardest asset in the world,” he advised. He also added firmly: “Never sell it.”

Bitcoin Purchases from $200

Salinas first bought Bitcoin around 12 years ago at a price of approximately $200. His current net worth is estimated to be between $4.6 billion and $5.8 billion, according to different sources.

The billionaire’s Bitcoin journey began when he was “orange-pilled” by former Grayscale CEO Barry Silbert around 2012 or 2013. Being “orange-pilled” refers to becoming convinced of Bitcoin’s value proposition.

Saludos sobrinos, mi amigo @saylor les manda los mejores deseos a todos ustedes antes de su conferencia sobre #Bitcoin en Miami . pic.twitter.com/HtyoQuio54

— Don Ricardo Salinas Pliego (@RicardoBSalinas) February 19, 2025

Over the years, Salinas has steadily increased his exposure to the cryptocurrency. In April 2022, at the Bitcoin 2022 Conference, he mentioned that his allocation had reached 60%.

Since at least 2021, Salinas has been working to make one of his company’s subsidiaries, Banco Azteca, the first Mexican bank to accept Bitcoin. However, this effort has faced regulatory challenges.

Salinas’ Bitcoin comments came as he revealed plans to remove financial services firm and retailer Grupo Elektra from Grupo Salinas. This restructuring would allow him to run the business according to his own vision.

The Mexican businessman is known for being an outspoken supporter of Bitcoin. His latest portfolio revelation shows he is backing this support with major financial commitment.

Salinas’ move toward Bitcoin comes amid his ongoing legal and tax challenges with the Mexican government. The billionaire is also planning to delist his flagship firm Grupo Elektra.

His investment strategy stands out for its extreme concentration in cryptocurrency and precious metals. Most financial advisors recommend more diverse portfolios to spread risk across different asset classes.

The post Mexican Billionaire Ricardo Salinas Goes “All In” on Bitcoin with 70% Portfolio Allocation appeared first on Blockonomi.