- From 2020 to 2024, Ricardo Salinas raised his Bitcoin investments from 10% to 70% stake.
- Mexico’s banking authority slowed down the implementation of Bitcoin into Banco Azteca’s operations.
- Metaplanet and El Salvador buy more Bitcoin signaling global adoption.
Mexican billionaire Ricardo Salinas has allocated 70% of his total investment portfolio to Bitcoin and Bitcoin-related assets. During his March 4 Bloomberg interview, the founder and chairman of Grupo Salinas discussed his current investment strategy.
During 2020 Salinas maintained Bitcoin as 10% of his portfolio, but he increased his holdings in 2022. The number of bitcoin Salinas owned grew to 60% in April 2022. Now, he is “pretty much all in” on Bitcoin, with the remaining 30% of his portfolio distributed to gold and gold miners.
The businessman emphasized Bitcoin’s fixed supply, calling it the “hardest asset in the world.” He also recommended a long-term approach, suggesting investors buy Bitcoin gradually through dollar-cost averaging.
Salinas Pushes for Bitcoin Despite Regulatory Challenges
Salinas has consistently supported the integration of Bitcoin into Mexico’s financial infrastructure for many years. In 2021 he directed Banco Azteca towards becoming the initial financial institution in Mexico to welcome Bitcoin transactions through Grupo Salinas. However, the requested initiative met resistance from regulatory authorities which caused a delay.
Salinas maintains his dedication to implementing Bitcoin adoption processes. He revealed his intention to split the financial services and retail company Grupo Elektra from Grupo Salinas. The division would permit him to oversee Grupo Elektra as an independent entity.
Salinas, with a net worth of $4.6 billion, has long expressed concerns about traditional financial systems. Bitcoin received strong endorsement from Salina who invested most of his wealth into this decentralized form of currency. He stated officially that all his investments are limited to the assets within his businesses.
Bitcoin Holdings Surge Among Corporations and Governments
Salinas is not the only major entity increasing Bitcoin exposure Metaplanet recently acquired 135 Bitcoin for $13 million at an average price of $96,185 per BTC, making it the 14th largest corporate Bitcoin holder globally. Meanwhile, El Salvador expanded its Bitcoin reserves by purchasing seven Bitcoin on February 24, surpassing its usual daily average of one. The country’s National Bitcoin Office highlighted this increase as part of its broader Bitcoin strategy.
The rising number of institutions that invest in Bitcoin demonstrates a worldwide movement in investment patterns. The financial role of Bitcoin grows stronger because more corporations and governments buy Bitcoin. Highlighted Crypto for Today
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