Mexican billionaire has 70% of his portfolio in Bitcoin

The Mexican billionaire Ricardo Salinas Pliego, with an estimated fortune of around $5 billion, is a convinced Bitcoin maximalist. As much as 70% of his investment portfolio is in Bitcoin. That is an exceptionally high allocation, as wealth advisors typically recommend limiting exposure to volatile assets.

Bitcoin is available at OKX and Bybit.

Fiat loses purchasing power, Bitcoin does not

Salinas Pliego, the seventh richest man in Mexico, explains why he puts such a large part of his wealth into Bitcoin: traditional fiat currencies, he believes, inevitably lose their purchasing power. He sees Bitcoin as the better long-term alternative, and that conviction is directly reflected in his investment choices.

That belief runs deep. Salinas says he once advised his wife to take out a mortgage on her home and borrow money to buy Bitcoin. He also urges people to consider converting part of their home equity into Bitcoin. Where traditional wealth managers see property as a stable investment, the billionaire says Bitcoin far outperforms real estate as a store of value in the long run, CoinDesk reports.

Bitcoin to $1 million, but when?

Salinas Pliego firmly believes that Bitcoin will eventually break through the $1 million mark. He admits he does not know when that moment will come, but the direction is clear to him. The current Bitcoin price stands at $65.078 at the time of writing, a drop of 1.1% over the past 24 hours.

This makes Salinas one of the most outspoken billionaires when it comes to Bitcoin as a long-term investment. While some analysts warn that the Bitcoin price could fall further and others see opportunities towards $74.000 to $79.000, the Mexican billionaire is looking at a much longer horizon. For him, the daily price fluctuation is a side issue.