Mexican Billionaire Salinas Says He Has 70% Bitcoin-Related Exposure

Ricardo Salinas, the billionaire proprietor of Mexican conglomerate Grupo Salinas, revealed successful a caller interrogation that helium has allocated 70% of his concern portfolio to bitcoin and bitcoin-related assets.

The salient bitcoin advocator disclosed that the remaining 30% of his portfolio consists of golden and shares successful his ain companies. He stated, “I don’t person a azygous bond, and I don’t person immoderate different stocks but my own.”

Salinas, whose nett worthy is estimated astatine $4.8 billion, has importantly accrued his bitcoin vulnerability from 10% successful 2020. The billionaire has been a vocal protagonist of bitcoin, and helium plans to marque his bank, Banco Azteca, the archetypal successful Mexico to judge it.

The revelation comes arsenic Salinas aims to delist his flagship firm, Grupo Elektra, from nationalist markets. He says this determination volition escaped him from shareholders and let him to tally the concern arsenic helium wishes.

Salinas has faced turbulent times recently, with Grupo Elektra’s stock terms plummeting 70% past year and wiping retired astir $5 cardinal of his fortune. He remains locked successful ineligible battles with the Mexican authorities implicit alleged unpaid taxes.

However, the tycoon remains defiant, stating, “Despite each the problems successful Mexico, our businesses are doing well. Now I’m escaped to bash my thing.”

Despite ineligible battles and governmental uncertainty, Salinas remains committed to Bitcoin arsenic a halfway pillar of his fiscal strategy. He has emerged arsenic 1 of Latin America’s astir influential Bitcoin proponents.

Salinas’ vocal enactment further validates bitcoin’s prospects arsenic a semipermanent store of value. If his stake pays off, the billionaire could cement his bequest arsenic 1 of the earliest firm champions of bitcoin.