Salinas revealed details of how much bitcoin exposure he has in his personal portfolio in an interview with Bloomberg and described the cryptocurrency as “the hardest asset in the world.”
Mexican Billionaire Ricardo Salinas Says Bitcoin Now Makes Up 70% of His Personal Portfolio
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Ricardo Salinas Doubles Down on Bitcoin, Holds 70% of His Portfolio in BTC
Mexico’s third richest man, Ricardo Salinas, chairman and CEO of corporate conglomerate Grupo Salinas, told Bloomberg in an interview published Tuesday, that 70% of his personal portfolio has bitcoin exposure.
The 69-year-old billionaire who commands a net worth of roughly $4.6 billion according to Forbes, made his fortune by expanding his family’s furniture business into consumer finance and eventually other areas such as telecommunications and network television.
In November 2020, Salinas tweeted that he had 10% of his liquid portfolio in bitcoin, and now, almost five years later, he says that allocation has jumped to 70%.
“I got about 70% in bitcoin-related exposure and 30% in gold and gold miner exposure,” Salinas said, after being asked about the extent of his crypto exposure. “I’m pretty much all in. I don’t have a single bond and I don’t have any other stocks except my own.”
Salinas went on to praise the cryptocurrency, calling it “the hardest asset in the world” and implored viewers to buy as much as possible using dollar cost averaging.
“It’s not going to go anywhere except up,” Salinas explained. “Not even gold is this hard. Your gold gets inflated at about 3% a year through additional production from mines. Bitcoin doesn’t.”
