Mexican Billionaire Ricardo Salinas Allocates 70% of Portfolio to Bitcoin
Published on 3/13/2025, 4:19:44 PM
Ricardo Salinas, a billionaire tycoon hailing from Mexico and the brain behind conglomerate Grupo Salinas, is making waves in the world of digital assets. A firm believer in the power and potential of Bitcoin, Salinas has been bustling with activity related to the digital currency. The latest feather in his cap? Ramping up his Bitcoin holdings—a move that has resulted in a massive chunk of his wealth, 70% to be precise, being imperatively tied to Bitcoin assets. A leap of faith per se, considering only 10% of his portfolio was invested in Bitcoin in the previous year, 2020.
In an enlightening discussion with Bloomberg on March 4th, Salinas expressed his faith in the power of Bitcoin unequivocally, confirming he is 'pretty much all in' when chipping in on this digital asset. Ever faithful to precious metals however, the remaining 30% of his investments is committed to gold and equity in gold mining companies. "That’s it. I don’t have a single bond, and I don't have any other stocks," he stated.
It's important to note that his professed involvement in Bitcoin doesn't include his stakes in Grupo Elektra SAB de CV. Grupo Elektra, a renowned financial services and retail powerhouse, is part of the larger Grupo Salinas and is valuated at about 75.15 billion Mexican Pesos (equating an impressive $3.64 billion).
The Bitcoin believer tags the digital currency as the 'hardest asset in the world’. The reasoning behind the epithet? The fixed supply cap of the Bitcoin. Offering investors a wealth of advice, he champions a dollar-cost averaging strategy—purchasing Bitcoin over a more extended period to get the best bang for their buck.
Underscoring his faith in Bitcoin, he ecstatically suggests, "Buy everything you can. It’s not going anywhere except up because the dynamics make it the hardest asset in the world."
Intriguingly, Salinas wove comparisons between Bitcoin and gold. He pointed to the key differentiator—that while gold's supply inflates by around 3% every year due to mining activities, Bitcoin’s supply remains steadfast. His advice rings clear, "Never sell it."
With a net worth hovering around $4.6 billion, Salinas laid bare his investment strategy back in November 2020 and revealed that 10% of his fluid portfolio was accrued into Bitcoin. By April 2022, he had increased his Bitcoin shares to sit at a whopping 60%.
At the Bitcoin 2022 Conference, the tycoon unveiled that he first dabbled into Bitcoin back in 2012 or 2013. The string-puller behind his first investment? None other than the former CEO of Grayscale, Barry Silbert. Back then, Bitcoin was valued at a mere $200.
Since 2021 at least, Salinas has been consistently making strides into marinating his business landscape with the flavor of Bitcoin. He has been working tirelessly to position Banco Azteca as the pioneer Mexican bank to embrace Bitcoin. Still, regulatory obstacles have, unfortunately, kept the endeavors in check.
The latest chapter in his Bitcoin journey unraveled itself along with his decision to detach Grupo Elektra from Grupo Salinas—an operation he believes will ensure better control over the business.
