Crypto
- Salinas now holds 70% of his liquid portfolio in Bitcoin, with the remainder in gold and gold miners, and no exposure to bonds or stocks.
- He is considering delisting Grupo Elektra to address tax challenges, which aligns with his preference for alternative assets over traditional investments.
- Salinas recommends dollar-cost averaging for average investors to mitigate short-term fluctuations in the crypto market.
Mexican entrepreneur and billionaire Ricardo Salinas said he has around 70% exposure in Bitcoin (BTC), as per a recent Bloomberg interview.
Salinas revealed that Bitcoin-related investments now constitute about 70% of his liquid portfolio, with the remaining 30% in gold and gold miners. This represents a 10% increase compared to 2020 amid the COVID-19 outbreak.
In my personal portfolio, the one I manage myself… Yeah, I’m pretty much all-in. I’ve got about 70% in Bitcoin-related exposure and 30% in gold and gold miners. (…) I don’t have a single bond and I don’t have any other stocks except my own.
Ricardo Salinas
Related: Trump’s Crypto Reserve Plan Faces Uncertain Future with Potential Congress Vote
It’s Not Going Anywhere Except Up
The billionaire’s latest move comes at a time when he is also considering delisting his flagship firm, Grupo Elektra, from the public market, and therefore easing tax-related challenges with the Mexican government. As Mexico’s fifth richest person, Salinas controls an expansive portfolio of banking, retail and telecommunications.
His aggressive stance on cryptocurrency is consistent with his broader investment philosophy, which praises alternative assets over traditional bonds and stocks. For instance, his long-term vision for Bitcoin is:
You have to think about 10 years and buy everything you can… it’s not going anywhere except up.
Ricardo Salinas
However, Salinas recommends that average investors should consider using a dollar-cost averaging (DCA) strategy to mitigate short-term volatility.
Related: Crypto Rally Reverses with Double-Digit Losses Amid Market Crash
Talking about volatility, Bitcoin and the rest of the crypto market have plummeted quite abruptly, with BTC falling from US$93K (AU$148K) to US$82K (AU$130K), nearly a 10% decrease in just 24 hours.
Moreover, the crypto market cap tanked from 3.2T (AU$5.1T) to about US$2.7T (AU$4.30T), as per data from CoinMarketCap.
