James Atkins
Editor
Editor
The third wealthiest individual in Mexico, billionaire Ricard Salinas Pliego, says that Bitcoin accounts for the larger portion of his liquid portfolio.
Salinas Pliego states in an interview with Mexico’s El Universal newspaper that BTC accounts for around 60% of his “liquid assets” – the funds he can readily access.
The Mexican billionaire, who has a net worth of $13.8 billion as of April 2021, compared investing in Bitcoin to “putting money in the mattress.”
On Thursday, Salinas spoke at the Bitcoin 2022 conference in Miami, telling investors to have a minimum portion of their portfolios in bitcoin.
According to him:
I own liquid assets. I invest 60 percent in Bitcoin and Bitcoin equities, and 40 percent in hard stocks like oil and gas and gold mining.
And that’s my present position,” the Grupo Elektra chairman notes.
According to comments, Salinas Pliego’s Bitcoin and other cryptocurrency assets have grown substantially over the previous two years.
In 2020, the Mexican billionaire claimed he had around 10% of his portfolio invested in bitcoin.
Speaking in favor of Bitcoin as a better investment as opposed to government bonds, he says:
“I don’t have any bonds,” he said on a panel at the conference. He calls bonds “a terrible investment,” that he wouldn’t touch even with a “10-foot pole.”
Salinas says Bitcoin is a superior investment.
When bonds are moving toward their worst returns in over seven decades amid central bank monetary tightening and interest rate increases.
When it comes to bond performance, he added, “Bitcoin outperforms bonds.”,
He said:
“It’s the absolute worst thing. I mean, getting your $100 back is the ideal situation. That’s the greatest outcome that can happen to you.”
Salinas’ comments come amid a surge in Mexico’s bitcoin trading activity.
The country’s leading bitcoin exchange, Bitso, has seen its volumes more than triple in recent times.
In the past year, Salinas’ Grupo Elektra has made headlines for its investments in cryptocurrency-related companies.
The group invested $7 million in XAPO, a Bitcoin wallet and payment processor startup, in 2015.
In 2017, it purchased a minority stake in wallet provider Blockchain Luxembourg S.A.R.L
However, Salinas isn’t the only Mexico-based billionaire to invest in Bitcoin.
Ricardo Salinas Pliego’s brother, Roberto, is also a BTC holder.
In February 2021, Roberto said that he had 10% of his liquid portfolio in Bitcoin, adding that the flagship cryptocurrency could reach $1 million per coin someday.
Other notable bitcoin investors from Mexico include Marcos Galperin, CEO of MercadoLibre, and Alex Rodriguez, a former professional baseball player.
Mexico has a total population of around 126 million people.
Its nominal GDP was $1.142 trillion in 2020, making it the 11th-largest economy in the world.”
Mexico has been one of the fastest-growing economies in Latin America in recent years.
Salinas also owns one of Mexico’s frontline broadcasters in TV Azteca. His net worth is put at $12.9 billion.
Other notable bitcoin investors from Mexico include Marcos Galperin, CEO of MercadoLibre, and Alex Rodriguez, a former professional baseball player.
Mexico is one of the fastest-growing economies in Latin America in recent years, making it an attractive investment destination for many people.
Salinas Pliego, a Mexican billionaire, is one of those people.
“I have always liked to have cash available, either at home or abroad, in case something happens,” said Salinas Pliego.
“However, presently I am more worried about inflation than about not having liquidity, so I have put part of my liquid assets into Bitcoin.”
If the likes of Salinas, Elon Musk, and other notable celebrities are seeing Bitcoin as an alternative reliable investment.
Don’t you think its time you consider it?
I have been writing copy for blockchain-related projects since 2017. I understand the importance of being able to communicate clearly and effectively with both technical and non-technical audiences. By leveraging my understanding of the crypto industry trends, I can help increase adoption in this rapidly evolving landscape.
