Bitcoin News

Mexican Billionaire Ricardo Salinas Is a Big Bitcoin Investor

This information will undoubtedly delight crypto enthusiasts, in this case bitcoin evangelists and enthusiasts. Ricardo Salinas Pliego claims that he has invested heavily in digital currencies.

The billionaire stated that he doesn’t own any bonds. He said that he had 60% in bitcoin and bitcoin equity in his liquid portfolio. Then there’s 40 percent in hard assets like stocks such as oil and gas, gold miners and other stocks.

Although he did not give a specific amount, this announcement makes him one the first billionaires to declare that he is all in on Bitcoin.

Salinas spoke at the “Bitcoin 2022” conference in Miami. More than 25,000 people attended the event.

According to Bloomberg, Salinas is the chairman of Grupo Elektra. This conglomerate has a revenue of 119 Billion Mexican Pesos ($6.1 Billion) in 2019.

Banco Azteca is owned by the Mexico City-based retail and lending group. He also holds shares in TV Azteca, the broadcaster.

According to Bloomberg Billionaire Index , his net worth is $12.8 billion.

The Club of Bitcoin Fans Billionaires

His latest tweets are about bitcoin and the crypto market, which Salinas seems to be a big advocate for. He shared a photo of himself with Michael Saylor (another billionaire and investor in bitcoin).

“Please, don’t trust the government with your future, you and I both know how that ends. Stay away from #FIAT money. Invest in #btc,” the billionaire posted to his 1,000,000 followers.

“#Goodmorning from @TheBitcoinConf. We will continue to learn, meet new friends and build better opportunities to @groupsalinas’ collaborators !!!’. He also posted. “I met @saylor in person and we will do interesting stuff.”

Salinas isn’t the first billionaire who has invested in bitcoin.

Bill Miller , a legendary investor and fund manager, has shown a great love for cryptocurrency. He said that Bitcoin and other cryptos now account for around half of his personal assets.

He recommended that individual investors invest at least 1% in bitcoin.

Salinas’ revelation comes as the United States makes laws more clear.

Last month, President Joe Biden issued an executive directive asking federal agencies for assistance in regulating the cryptocurrency industry. This executive order also made clear that innovation must not be stopped and did not mention taxation.

The White House revived the idea for a digital currency.

In recent weeks, institutional investors have been less distrustful of bitcoin and other altcoins. Bill Gross , the King of Bonds and Bill Griffin, both billionaires, recently spokehighly about bitcoin.