Mexican billionaire Salinas says he has 70% Bitcoin-related exposure
Ricardo Salinas, the billionaire of the Mexican conglomerate Grupo Salinas, recently announced in an interview that he had assigned 70% of his investment portfolio to Bitcoin and Bitcoin-related assets.
The prominent Bitcoin lawyer announced that the remaining 30% of his portfolio consist of gold and stocks of his own companies. He explained: “I don’t have a single bond and I have no other shares except my own.”
Salinas, whose net assets are estimated at 4.8 billion US dollars, significantly increased his Bitcoin engagement in 2020. The billionaire was a loud supporter of Bitcoin, and he plans to make his bank Banco Azteca, the first in Mexico to accept it.
The revelation comes when Salinas aims to delete his flagship company Grupo Elektra from the public markets. He says this step will free him from the shareholders and allow him to run the business as he wishes.
Salinas has recently been before the turbulent times, with Grupo Elektra’s share price dropped by 70% last year and triggered its assets of almost 5 billion US dollars. He remains locked up in legal battles with the Mexican government due to alleged unpaid taxes.
However, the Tycoon is defiant and explains: “Despite all the problems in Mexico, our companies are doing well. Now I can do my thing. “
Despite legal battles and political uncertainty, Salinas is still committed to Bitcoin as a core column of his financial strategy. He has developed into one of the most influential Bitcoin supporters of Latin America.
Salinas’ vocal support continues to confirm Bitcoin’s prospects as a long -term value memory. If his bet pays off, the billionaire could consolidate his heir as one of Bitcoin’s earliest company champions.
