Mexican billionaire with 70% of his investment portfolio in bitcoin says it’s better than real estate
Ricardo Salinas Pliego, whose net worth is estimated at roughly $5 billion, is a bitcoin maximalist who told his wife to mortgage her house to buy bitcoin.
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Summary
- Mexican billionaire Ricardo Salinas has put about 70% of his investment portfolio into bitcoin, arguing that fiat currencies inevitably lose purchasing power.
- Salinas says he even persuaded his wife to mortgage her house to buy bitcoin and urges others to consider turning some home equity into bitcoin exposure, citing the cryptocurrency’s outperformance of real estate since 2016.
- Drawing on his family’s history in gold and their distrust of post-gold-standard fiat money, Salinas views bitcoin as a scarce asset akin to gold and believes it could eventually reach $1 million, though he is unsure when.
