The Mexican billionaire said Bitcoin is superior to real estate, called it unseizable, reiterated his $1 million price view, and said his allocation has risen from 10% in 2020 to 70% today.
Mexican billionaire Ricardo Salinas Pliego said 70% of his investment portfolio is allocated to Bitcoin, up from 10% in 2020, underscoring a years-long rise in his conviction in the asset. He described Bitcoin as unseizable and instantly transferable worldwide, argued it is superior to real estate and fiat money, and said he once persuaded his wife to mortgage property to buy Bitcoin. Salinas also said he tried to gain additional exposure in 2021 by borrowing against Grupo Elektra shares, in a transaction tied to a firm he later described as fraudulent. He reiterated that Bitcoin will reach $1 million, though he said he does not know when. The comments, reported by CoinDesk and echoed in Bitcoin Magazine, add detail to his longstanding criticism of fiat currency debasement and his view of Bitcoin as a preferred store of value over property.