Mexican Billionaire Bets Big on Bitcoin

Mexican billionaire Ricardo Salinas Pliego has revealed that Bitcoin now makes up 70% of his personal investment portfolio. The tech-savvy entrepreneur, who is also the chairman of Mexico's largest retailer, Grupo Elektra, made the announcement during a recent interview with local media.

Salinas Pliego, who has been a vocal advocate of cryptocurrencies, has been steadily increasing his exposure to Bitcoin over the past year. In 2020, he revealed that he had allocated 10% of his liquid portfolio to Bitcoin, and has since increased that allocation significantly.

The billionaire's bullish stance on Bitcoin comes as the cryptocurrency continues to gain mainstream acceptance and recognition. Despite recent volatility, Bitcoin has seen a significant increase in its price and market capitalization over the past year, attracting the attention of institutional investors and high net worth individuals.

Salinas Pliego's investment in Bitcoin is also a reflection of his belief in the potential of blockchain technology. The billionaire has previously stated that he sees blockchain as a transformative technology that has the potential to disrupt traditional industries and create new opportunities.

However, Salinas Pliego's investment in Bitcoin is not without risks. The cryptocurrency market is still relatively young and volatile, and there are concerns about regulatory risks and market manipulation. Despite these risks, Salinas Pliego remains confident in the long-term potential of Bitcoin and its role in his investment portfolio.