Ricardo Salinas Becomes The Most Crypto Invested Billionaire After Putting 70% Of His Assets Into Bitcoin

The fifth richest man in Mexico, billionaire Ricardo Salinas announced that he has stored 70% of his assets in bitcoin.

Salinas revealed during his interview with Bloomberg that is is going all in on Bitcoin, with the rest of his assets invested in gold and gold mining stocks.

During the interview, he also revealed his unorthodox investment portfolio, where he doesn't invest in any bonds or stocks.

"Bitcoin is the only asset that would keep going up!"

Salina's investment strategy is notably unconventional, but it reflects his belief that bitcoin is the more robust and reliable asset.

His skepticism towards fiat currencies and traditional financial systems also further solidifies his love for bitcoin.

For this reason, he has even increased his bitcoin holdings, from a measly 10% in 2020, to 60% in 2022 to ultimately 70% now.

Salinas, whose net worth stands at $4.6 billion, has long been a vocal bitcoin advocate, calling it the modern form of gold while praising its portability and resistance to debasement.

He has particularly emphasised its value in Latin American economies like Venezuela and Argentina, where local currencies have struggled with significant inflation.

He also emphasized that time is the best way to combat bitcoin's short term volatility. For bitcoin, you have to think about 10 years and buy everything you can.

He has previously mentioned that unlike traditional assets, the fixed supply cap of bitcoin is the reason why the value of bitcoin will only increase overtime. He argues that even gold is subject to inflation.

"Your gold get inflated at about 3% a year through additional production from mines. Bitcoin doesn't. Never sell it."

Putting bitcoin into Mexico's banking system

Salina's increased bitcoin exposure may easily put him among the world's most cryptocurrency-invested billionaires that are not inside the crypto industry. While other wealthy investors might have allocated portions of their portfolios into digital assets, few have publicly committed such as large percentage to Bitcoin and related investment.

The Billionaire was first introduced to bitcoin by former Grayscale CEO Barry Silbert. Today, he is more than just an investor, but hopes to use his power to integrate bitcoin into Mexico's banking sector.

Since 2021, Salinas has been pushing to make Banco Azteca-one of his company's subsidiaries-the country's first bank to accept bitcoin, though regulatory hurdles has stalled his efforts.

Beyond his personal investments, Salinas has actively promoted bitcoin and the concept of decentralized finance on social media platforms, where he has amassed a following of over 2 million on X.