Mexican Billionaire Ricardo Salinas Reports 70% Bitcoin Allocation

Ricardo Salinas, founder and chairman of Grupo Salinas, has significantly increased his Bitcoin holdings, now allocating 70% of his investment portfolio to Bitcoin-related assets—up from 10% in 2020.

In a March 4th interview with Bloomberg, Salinas stated he is “pretty much all in” on Bitcoin, with the remaining 30% of his portfolio invested in gold and gold mining stocks.

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

His Bitcoin exposure does not appear to include his holdings in Grupo Elektra SAB de CV, a financial services and retail subsidiary of Grupo Salinas, which has a market capitalization of 75.15 billion Mexican pesos ($3.64 billion).

Salinas described Bitcoin as the “hardest asset in the world,” citing its fixed supply cap. He advised investors to use a dollar-cost averaging strategy—gradually accumulating Bitcoin over time.

“Buy everything you can. It’s not going to go anywhere except up because the dynamics make it the hardest asset in the world,” he stated.  

He compared Bitcoin with gold, pointing out that gold’s supply increases by about 3% per year due to mining, whereas Bitcoin’s supply remains fixed. “Never sell it.”

Salinas, whose net worth is estimated at $4.6 billion, previously revealed in November 2020 that 10% of his liquid portfolio was allocated to Bitcoin. By April 2022, he reported increasing his allocation to 60%.

At the Bitcoin 2022 Conference, he shared that he was introduced to Bitcoin by former Grayscale CEO Barry Silbert in 2012 or 2013 and made his first investment when Bitcoin was priced at $200.

Since at least 2021, Salinas has attempted to integrate Bitcoin into his business ventures, including efforts to make Banco Azteca the first Mexican bank to accept Bitcoin. However, regulatory challenges have stalled the initiative.

His latest Bitcoin statements came alongside his announcement to separate Grupo Elektra from Grupo Salinas, a move he said would provide greater operational control over the business.