Mexican Billionaire Ricardo Salinas Allocates 70% of Portfolio to Bitcoin
The crypto market has undergone a major shift this last year. It’s grown in relevance, with access and exposure growing leaps and bounds since the start of 2024. That has only emboldened some of its greatest supporters. Among them is Mexican Billionaire Ricardo Salinas, who recently told Bloomberg he has allocated 70% of his portfolio to Bitcoin.
Salinas has a net worth of $5.8 billion and is a well-known Bitcoin advocate. During the interview, he confirmed he doesn’t own a single bond and only holds shares in his own company. Moreover, he has sported efforts to increase the use of BTC in Mexico in recent years.
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Mexican Billionaire Ricardo Salinas, with a net worth of $5.8 billion, allocates 70% of his portfolio to Bitcoin. pic.twitter.com/5yo4R9M1xO
Mexican Billionaire Ricardo Salinas Allocates Most of His Portfolio to Bitcoin
There is no denying that the last 14 months have been revolutionary for the cryptocurrency market. The US, since the arrival of President Donald Trump, has embraced crypto like never before. It is seeking to overhaul its digital asset policy with the arrival of a crypto task force. Moreover, its move helped Bitcoin reach a six-figure price late last year.
Not only has that created new crypto participants, but it has fortified the position of crypto advocates. Indeed, Mexican billionaire Ricardo Salinas is one of them, as he recently told Bloomberg he has allocated 70% of his portfolio to Bitcoin. The move ensures his financial commitments lie in BTC, himself, and gold.
“I’ve got about 70% in Bitcoin-related exposure and 30% in gold and gold miners,” Salinas said. “I don’t have a single bond, and I don’t have any other stocks except my own.” Moreover, his allocation has only increased over the years. In 2020, he confirmed he had just 10% of his portfolio in the leading cryptocurrency, which is far below his current allotment.
Salinas had also worked to make his bank the first in Mexico to accept Bitcoin. Conversley, with a net worth of $5.8 billion, it will be interesting to see if Salinas is the start of a new trend. Although BTC has seen its price slide this year, the potential for growth could be massive.
