Billionaire Ricardo Salinas keeps 70% of liquid wealth in Bitcoin | News. az
Mexican billionaire Ricardo Salinas has revealed that Bitcoin remains his absolute preferred financial asset, driven by a firm belief that fiat currencies are being globally debased. The Grupo Salinas. . .
Mexican billionaire Ricardo Salinas has revealed that Bitcoin remains his absolute preferred financial asset, driven by a firm belief that fiat currencies are being globally debased. The Grupo Salinas chairman explained that his strategy is simple: "As soon as I get my hands on some fiat, I turn it into Bitcoin. "Clarifying past statements about his wealth allocation, Salinas noted that his heavy Bitcoin exposure applies specifically to his liquid financial portfolio rather than his total net worth, which includes vast holdings in real estate, businesses, boats, and aircraft. Currently, roughly 80% of his liquid investment portfolio is tied directly to Bitcoin and crypto miners, while the remaining 20% is held in gold and silver miners,News. Azreports, citingBenzinga. Salinas trace his fascination with "sound money" back to childhood family discussions surrounding President Richard Nixon’s 1971 decision to end the U. S. dollar's convertibility into gold. He first encountered Bitcoin around 2013 when it was trading between $200 and $400. While he initially treated it like a standard stock, his perspective shifted dramatically after reading TheBitcoinStandard by Saifedean Ammous, which convinced him that Bitcoin is a fundamentally superior form of money. RECOMMENDED STORIESBitmine buys $214 million Ethereum dip: should you invest?Best Crypto presale opportunities ahead of Altcoin seasonTop Altcoins to watch before the next market expansion5 best crypto opportunities including MemeToro, ONDO, TAO, TRX, and moreEven with the cryptocurrency experiencing a roughly 40% pullback over the past year, Salinas has used the market dip to increase his exposure. He maintains that the debate shouldn't be about choosing between Bitcoin and gold, but rather choosing either hard asset over depreciating fiat dollars. For the average investor, Salinas frames Bitcoin as a long-term property and savings vehicle rather than a short-term trading tool. He advocates for dollar-cost averaging and utilizing retirement accounts to build a position, advising investors to buy, store it, and simply avoid looking at the short-term price fluctuations. With Bitcoin’s fixed supply locked in, Salinas believes the asset's future is purely a question of growing global demand. News. AzBy Aysel Mammadzada