Mexico's Third-Richest Man Allocates 70% of Portfolio to Bitcoin

Ricardo Salinas Pliego, Mexico’s third-richest individual, has revealed a significant shift in his investment strategy, allocating 70% of his liquid investment portfolio to Bitcoin. This move marks a substantial escalation from his initial 10% allocation in 2020, demonstrating his growing conviction in the cryptocurrency's long-term value. The remaining 30% of his portfolio is divided between physical gold and shares in gold mining companies.

Salinas’s journey into Bitcoin began in 2020 with a modest 10% allocation. By 2022, this had increased to 60%, and his current 70% share underscores his deepening belief in Bitcoin over traditional financial assets. He describes Bitcoin as “the hardest asset” with superior characteristics to gold, such as a fixed supply, digital portability, and resistance to inflation. Salinas advises a long-term strategy with Bitcoin, recommending dollar-cost averaging and discouraging efforts to time the market.

Salinas Pliego, the founder of Grupo Salinas, has publicly stated that he believes Bitcoin could surpass gold's market value, which is currently estimated at 22 trillion dollars. This prediction underscores his confidence in Bitcoin's long-term prospects and its ability to serve as a hedge against inflation. His decision to invest such a large portion of his wealth in Bitcoin is seen as a strong endorsement of the cryptocurrency's potential. Salinas Pliego's actions have drawn attention to the growing acceptance of Bitcoin among high-net-worth individuals and institutional investors. His decision to allocate such a significant portion of his portfolio to Bitcoin reflects a broader trend of increasing interest in digital assets as a store of value and a means of diversifying investment portfolios.

While his confidence is notable, investing heavily in Bitcoin carries inherent risks, including high volatility and regulatory uncertainty. Nonetheless, Salinas’s strategy reflects a strong belief in Bitcoin’s resilience and long-term value proposition. His bold move sends a powerful message to investors worldwide, potentially inspiring similar moves from other wealthy individuals and family offices. High-profile endorsements from billionaires often spark wider interest and lend credibility to the digital asset space.