Mexican billionaire Ricardo Salinas Pliego has made headlines with his unwavering endorsement of Bitcoin, urging individuals to “buy all the Bitcoin you can.” As the founder and chairman of Grupo Salinas—a conglomerate with interests spanning telecommunications, media, financial services, and retail—Salinas has positioned himself as one of Latin America’s most vocal Bitcoin advocates.
A Bold Investment Strategy
Salinas has allocated a staggering 70% of his personal investment portfolio to Bitcoin and related assets, a significant increase from the 10% allocation he reported in 2020. The remaining 30% is invested in gold and shares of gold mining companies. Notably, he holds no bonds or external stocks, stating,
“I don’t have a single bond, and I don’t have any other stocks except my own” .
This aggressive investment approach underscores his belief in Bitcoin as a superior store of value, especially in the face of economic instability and inflation. Salinas has expressed skepticism toward traditional investments like bonds and real estate, viewing them as less effective in preserving wealth.
This aggressive investment approach underscores his belief in Bitcoin as a superior store of value, especially in the face of economic instability and inflation. Salinas has expressed skepticism toward traditional investments like bonds and real estate, viewing them as less effective in preserving wealth.
Critique of Traditional Investments
Salinas has been particularly critical of real estate as an investment vehicle. He argues that owning property is more of an expense than an investment, citing costs associated with taxes, maintenance, and its immobility. In contrast, he views Bitcoin as a more efficient and rewarding asset, stating that those who consider real estate an investment are “doing the wrong thing” .
Despite facing legal challenges and a significant drop in the share price of his company Grupo Elektra, Salinas remains steadfast in his commitment to Bitcoin. He believes that Bitcoin offers a hedge against economic instability and a means to preserve wealth amid financial turbulence. His decision to delist Grupo Elektra from public markets is part of a broader strategy to gain greater control over his business ventures and investment choices.
Influence on Investment Trends
Salinas’s endorsement of Bitcoin reflects a broader trend among high-net-worth individuals who are increasingly turning to digital assets as part of their investment portfolios. His actions have the potential to influence other investors and contribute to the growing acceptance of cryptocurrencies in mainstream finance. As more individuals recognize the potential of Bitcoin as a long-term store of value, the cryptocurrency market is poised for continued growth .
