Mexican Billionaire Says 70% of Portfolio Is in Bitcoin, Better Than Real Estate
Summary
- Ricardo Salinas Pliego said 70%% of his total investment portfolio is in Bitcoin.
- Salinas said investors should consider shifting real estate assets such as home equity into Bitcoin exposure.
- He said he sees Bitcoin as the modern version of gold and that it will reach $1 million over the long term.
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Mexican billionaire Ricardo Salinas Pliego says Bitcoin is a better long-term investment than real estate.
In a June 17 interview with CoinDesk, Salinas said 70% of his investment portfolio is in Bitcoin.
Salinas heads Mexican conglomerate Grupo Elektra. His net worth is estimated at about $5 billion.
He argued that ordinary investors should consider shifting part of their housing wealth into Bitcoin exposure. “For most people, their biggest investment and retirement fund is home equity,” he said. “They need to find a way to convert some of that into Bitcoin exposure.”
Salinas describes Bitcoin as “the modern version of gold.” Scarce assets preserve value, while fiat currencies steadily lose purchasing power. He added that Bitcoin will reach $1 million, though he does not know when.
