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bitcoin

Mexican Billionaire Reveals 70% Exposure To Bitcoin And Related Investments

Ash Tiwari
by Ash Tiwari
6 months ago
·
Posted in Bitcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

According to a Bloomberg report published on March 4, Mexican billionaire Ricardo Salinas has up to 70% exposure to Bitcoin (BTC) and related investments. The Bloomberg Billionaires Index estimates Salinas’ current net worth at approximately $5.8 billion.

Salinas’ High Bitcoin Exposure

BTC continues to attract high-net-worth investors, with Mexican business tycoon Ricardo Salinas emerging as one of its most vocal proponents. Salinas recently revealed that nearly all of his wealth is tied up in “hard assets” such as Bitcoin and gold. He stated:

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.

Salinas has gained a substantial following on social media due to his strong pro-Bitcoin stance. His current 70% exposure to BTC and related investments marks a significant increase from the 10% allocation he reported back in 2020, highlighting his deepening conviction in the asset.

Related Reading: Strategy Inches Closer To 500,000 Bitcoin With Fresh 20,356 BTC Purchase

In September 2021, Salinas announced plans to make his bank, Banco Azteca, the first in Mexico to accept Bitcoin. At the time, he described BTC as a “good way to diversify an investment portfolio.” 

However, shortly after his statement, the Bank of Mexico reaffirmed that cryptocurrencies were not recognized as legal tender and prohibited their use within the country’s financial system. As a result, Banco Azteca has yet to integrate BTC into its operations.

BTC’s Rising Acceptance As A Store Of Value

While BTC’s widespread use as a currency remains uncertain, its reputation as a store of value continues to strengthen. Countries like El Salvador and Bhutan actively mine and accumulate Bitcoin as part of their financial strategy.

Related Reading: Norwegian Sovereign Wealth Fund’s Bitcoin Exposure Jumps 153% In 2024

Following US President Donald Trump’s victory in the November 2024 election, the US has begun implementing plans to create a strategic crypto reserve. Some experts, however, remain skeptical about the inclusion of altcoins, arguing that Bitcoin is the only digital asset with a proven track record as a store of value.

Several US states are also exploring BTC adoption for treasury management. Kansas, Kentucky, Ohio, and Texas have introduced legislative measures aimed at incorporating BTC into state treasuries.

bitcoin
Source: bitcoinlaws.io

The state of Utah leads in terms of progress made regarding the creation of a BTC reserve. In February, Utah’s Blockchain and Digital Innovation Amendment Bill cleared its first Senate reading.That said, concerns still persist regarding BTC’s claim as a reliable store of value. 

According to a recent report by crypto exchange Bitfinex, the top cryptocurrency has been increasingly behaving like a speculative asset instead of a conventional store of value. At press time, BTC trades at $82,641, down 8.9% in the past 24 hours.

bitcoin
BTC trades at $82,641 on the daily chart | Source: BTCUSDT on TradingView.com
Featured Image from Unsplash.com, Charts from Bitcoinlaws.io and TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Ash Tiwari

Ash Tiwari

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Ash is a seasoned freelance editor and writer with extensive experience in the blockchain and cryptocurrency industry. Over the course of his career, he has contributed to major publications, playing a key role in shaping informative, timely content related to decentralized finance (DeFi), cryptocurrency trends, and blockchain innovation. His ability to break down complex topics has allowed both seasoned professionals and newcomers to the industry to benefit from his work. Beyond these specific roles, Ash's writing expertise spans a wide array of content, including news updates, long-form analysis, and thought leadership pieces. He has helped multiple platforms maintain high editorial standards, ensuring that articles not only inform but also engage readers through clarity and in-depth research. His work reflects a deep understanding of the rapidly evolving blockchain ecosystem, making him a valuable contributor in a field where staying current is essential. In addition to his writing work, Ash has developed a strong skill set in managing content teams. He has led diverse groups of writers and researchers, overseeing the editorial process from topic selection, approval, editing, to final publication. His leadership ensured that content production was timely, accurate, and aligned with the strategic goals of the platforms he worked with. This has not only strengthened his expertise in content strategy but also honed his project management and team coordination skills. Ash's ability to combine technical expertise with editorial oversight is further bolstered by his knowledge of blockchain analysis tools such as Etherscan, Dune Analytics, and Santiment. These tools have provided him with the data necessary to create well-researched, insightful articles that offer deeper market perspectives. Whether it’s tracking the movement of digital assets or analyzing blockchain transactions, his analytical approach adds value to the content he produces, ensuring readers receive accurate and actionable information. In the realm of content creation, Ash is not limited to just cryptocurrency markets. He has demonstrated versatility in covering other emerging technologies, market trends, and digital transformation across various industries. His in-depth research, coupled with a sharp editorial eye, has made him a sought-after professional in the freelance writing community. From developing editorial calendars to managing content delivery schedules, he has honed a meticulous approach to project management that ensures timely, high-quality work delivery. Throughout his freelance career, Ash has consistently focused on improving audience engagement through well-researched, insightful, and relevant content. His ability to adapt to the evolving needs of clients, whether it's enhancing the visibility of digital platforms or producing thought-provoking pieces for a wide range of audiences, sets him apart as a dynamic force in the field of digital content creation. His contributions have helped to shape a well-rounded portfolio that showcases his versatility, technical expertise, and dedication to elevating the standards of journalism in blockchain and related sectors.

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