Mexican Billionaire Goes Wild for Bitcoin: 70% Portfolio in Crypto? 😲💰

Gather ‘round, dear readers, for I present to you the curious case of Ricardo Salinas, the founder and chairman of Grupo Salinas—a conglomerate that sounds more like an enthusiastic toddler’s Lego collection than a serious business entity. This man has taken the plunge into the shimmering waters of Bitcoin with a ferocity usually reserved for last-minute trips to the ice cream shop! 🍦

Yes, you heard that right—70% of his investments now dance merrily in the world of Bitcoin-related assets, a number that’s skyrocketed from a modest 10% back in 2020. It appears that Ricardo has fully embraced the digital currency revolution, declaring himself “pretty much all in” on Bitcoin (BTC). The other 30%? Well, that’s safely nestled in gold and gold miners, because why not keep a little bling in the mix?

“That’s it. I don’t have a single bond, and I don’t have any other stocks,”

A stunning admission, especially in a world where many of us still fret over the proper placement of our sock drawer. But wait, while 70% of his portfolio is roof-raisingly high, it’s worth noting that this allocation presumably excludes the shares he holds in Grupo Elektra SAB de CV, his own company armed with a market cap of a staggering 75.15 billion Mexican pesos—roughly equivalent to an average Tuesday for Elon Musk.

Salinas, with the conviction of a man who’s just discovered coffee for the first time, insists that Bitcoin is “the hardest asset in the world.” And if you’re looking for encouragement to jump on the Bitcoin bandwagon, he has some sage advice: dollar cost average, or in layman’s terms, buy small amounts of BTC over a long period. Presumably, this allows for more trips to the shop without breaking the bank.

“Buy everything you can. It’s not going to go anywhere except up because the dynamics are such that it is the hardest asset in the world.”

He audaciously claims, “Not even gold is this hard. Your gold gets inflated at about 3% a year through additional production from mines. Bitcoin doesn’t.” Heaven forbid our gold gets inflated—next thing you know it’ll start showing up at parties, demanding top-shelf cocktails.

Our favorite billionaire with a net worth of $4.6 billion has been steadily increasing his Bitcoin stash since November 2020. Back then, 10% was his party number, but as of the Bitcoin 2022 Conference, it had ballooned to 60%. Seriously, at this rate, the next Bitcoin party might just need a bouncer at the door.

During his time at the conference, Salinas revealed that a certain Barry Silbert, the former CEO of Grayscale, “orange-pilled” him back in 2012 or 2013, leading to his very first Bitcoin purchase at a paltry $200. If only we all had a friend like Barry to guide us through the murky waters of cryptocurrency investments.

But Ricardo’s dreams don’t end with mere investments. He aims to make Banco Azteca, one of his subsidiaries, the first Mexican bank to accept Bitcoin. Unfortunately, he’s been met with the regulatory equivalent of a wet blanket. Talk about a buzzkill!

As he shares his bold plans to run his business as he pleases—indeed, he’s even contemplating removing Grupo Elektra from Grupo Salinas—I can’t help but think: in a world filled with boring stocks and bonds, why not embrace a little Bitcoin chaos?

2025-03-05 09:28

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