Portfolio Revealed: 70% Bitcoin, 30% Gold and Self-Owned Equity
Ricardo Salinas, the billionaire owner of Mexican conglomerate Grupo Salinas, disclosed in a recent interview that he has allocated 70% of his investment portfolio to bitcoin and bitcoin-related assets. The remaining 30% consists of gold and shares in his own companies. He stated, “I don’t have a single bond, and I don’t have any other stocks except my own.” With a net worth estimated at $4.8 billion, Salinas has dramatically increased his bitcoin exposure from just 10% in 2020.
From 10% to 70%: Aggressive Bitcoin Accumulation
Salinas has been a vocal advocate of bitcoin. He began allocating to the cryptocurrency in 2020 with a modest 10% position and has since expanded it to become the dominant component of his portfolio. He plans to make his bank, Banco Azteca, the first in Mexico to accept bitcoin, further advancing the adoption of digital assets. Salinas views bitcoin as an effective hedge against fiat currency depreciation and government intervention, aligning with his long-term value storage investment philosophy.
Delisting Plans and Legal Battles: Pursuing Operational Freedom
Salinas is moving to delist his flagship company, Grupo Elektra, from public markets. He believes this will free him from shareholder constraints and allow him to run the business as he wishes. Last year, Grupo Elektra's share price plummeted 70%, erasing nearly $5 billion of his fortune. Additionally, he remains embroiled in legal disputes with the Mexican government over alleged unpaid taxes. Despite these challenges, Salinas remains defiant: “Despite all the problems in Mexico, our businesses are doing well. Now I’m free to do my thing.”
Bitcoin as a Core Pillar of Long-Term Value Storage
Despite legal battles and political uncertainty, Salinas continues to view bitcoin as a central pillar of his financial strategy. He has emerged as one of Latin America's most influential bitcoin proponents. His vocal support further validates bitcoin's potential as a long-term store of value. If his bet pays off, Salinas could cement his legacy as one of the earliest corporate champions of bitcoin.