Ricardo Salinas Pliego reveals heavy Bitcoin allocation, citing fiat currency devaluation and long-term outperformance over real estate.
Mexican billionaire Ricardo Salinas Pliego disclosed that approximately 70% of his investment portfolio is in Bitcoin, citing concerns over fiat currency devaluation. He argued that Bitcoin has outperformed traditional assets like real estate over the long term and predicted it could reach $1 million, though he did not specify a timeline.
Salinas, ranked seventh among Mexico’s wealthiest, previously advised converting home equity into Bitcoin and suggested borrowing to increase exposure. His stance reflects a growing trend among high-net-worth individuals diversifying into cryptocurrencies amid inflationary pressures.
The remarks underscore Bitcoin’s evolving role as a hedge against currency depreciation, though market reactions remain tied to broader macroeconomic trends.