Mexican Billionaire Boosts Bitcoin Stake to 70%
1min read Mexican billionaire Ricardo Salinas has revealed that he has significantly increased his exposure to Bitcoin (BTC), with the cryptocurrency now making up 70% of his investment portfolio. The outspoken entrepreneur, whose net worth is estimated to be around $5.8 billion, has been a known proponent of BTC and has previously expressed his support for the cryptocurrency.
In an interview with Bloomberg, Salinas disclosed that he has allocated about 70% of his portfolio to Bitcoin-related investments, with the remaining 30% invested in gold and gold miners. Notably, the billionaire does not hold any bonds or other stocks except for his own companies.
This 70% figure represents a significant increase from the 10% allocation Salinas revealed in 2020. The billionaire's comments come amidst plans to delist his flagship firm Grupo Elektra and ongoing legal and tax challenges with the Mexican government.
Salinas' bullish stance on Bitcoin is not surprising, given his long-standing support for the cryptocurrency. In 2017, he expressed his intention to make his bank the first in Mexico to accept Bitcoin. His latest revelation highlights the growing interest and confidence in Bitcoin among high-net-worth individuals and investors.
