Mexican Billionaire Ricardo Salinas Boosts Bitcoin Exposure to 70%

Ricardo Salinas, one of the wealthiest business personalities in Mexico, has changed his investment strategy to include Bitcoin. He now invests up to 70% of his liquid portfolio in BTC. Salinas, who strongly supports cryptocurrency, no longer holds bonds or stocks. Instead, he focuses on investing in Bitcoin, gold, shares in his companies, and stakes in gold mining companies.

Richard Salinas is Committed to Promoting Bitcoin

According to reports, Salinas said he has 70% exposure to Bitcoin-related investments and 30% to gold and gold miners. 

By investing more in cryptocurrency, Salinas shows he believes in its long-term value, especially as a hedge against economic problems. His choice to shift away from traditional investments like stocks and bonds is part of a more significant trend among wealthy individuals and institutions who see the coin as an essential asset.

It is also worth noting that Salinas is committed to promoting the coin’s use in Mexico. He plans to make his bank the first in the country to accept BTC. This step would be an essential achievement for Bitcoin in Latin America, where interest in cryptocurrencies is growing.

Growing Corporate Interest in Bitcoin

Richard’s move mirrors a growing trend among companies and individuals diversifying their treasuries with Bitcoin. 

In November 2024, Jiva Technologies, a wellness and plant-based e-commerce company, allocated up to $1 million of its treasury into Bitcoin. Other firms have recently adopted similar strategies, including video-sharing platform Rumble, which allocated up to $20 million of its reserve to BTC.

Biopharmaceutical firm Hoth Therapeutics followed suit, earmarking $1 million for BTC to leverage its inflation-resistant qualities. Likewise, artificial intelligence company Genius Group made a significant investment of $10 million, acquiring 110 BTC as part of its treasury reserve strategy.

Crypto Adoption in Mexico

According to Triple A’s research on cryptocurrency ownership, Mexico’s interest in cryptocurrencies will increase in 2021. The increment happened when 40% of the nation’s businesses expressed interest in implementing blockchain and cryptocurrencies.

Richard Salinas, the billionaire and owner of the massive Mexican retailer Elektra, announced in December 2021 that Bitcoin would be accepted as a form of payment. Additionally, he advised people to invest in Bitcoin rather than fiat money like the dollar and the euro.