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- That’s the finest possible outcome. With a net worth of roughly $13 billion, Ricardo Salinas Pliego is the third richest man in Mexico. He is the owner of Grupo Elektra, a retail grocery chain that he inherited from his father, as well as TV Azteca, a Mexican television network.
- bitcoin and bitcoin equities made up the majority of his portfolio, accounting for 60% of the total. This is a huge increase from Salinas’ previous estimate of 10% of his total net worth in digital assets. According to this, Salinas is currently exposed to the pioneer cryptocurrency to the tune of billions of dollars.
- For the longest time, bonds have served as a safe haven for the ultra-rich. However, since inflation has outpaced the interest rates on these bonds, interest in them has waned over time, and Salinas appears to have given up on them entirely.
Ricardo Salinas Pliego, Mexico’s third-richest man, has made headlines for his anti-bitcoin position. Elektra, a supermarket chain, was the first to accept bitcoin payments in the future, according to the billionaire. He has also been a vocal proponent of investing in digital assets rather than traditional assets. This time, the billionaire has stunned investors by admitting that bitcoin now accounts for the majority of his portfolio.
Bitcoin Receives 60% Of The Vote
Ricardo Salinas, a billionaire, made a surprising statement during the Bitcoin conference in Miami. He stated that bitcoin and bitcoin equities made up the majority of his portfolio, accounting for 60% of the total. This is a huge increase from Salinas’ previous estimate of 10% of his total net worth in digital assets. According to this, Salinas is currently exposed to the pioneer cryptocurrency to the tune of billions of dollars.
Despite the fact that bitcoin accounts for a sizable chunk of the billionaire’s wealth, it’s no surprise that he decided to invest. Salinas has been recommending investors put a percentage of their portfolios into the digital asset for a long time. Frequently warns against holding money in fiat currencies. For the longest time, bonds have served as a safe haven for the ultra-rich. However, since inflation has outpaced the interest rates on these bonds, interest in them has waned over time, and Salinas appears to have given up on them entirely.
Bonds Are Absolute No
When asked about his investment strategy, the billionaire stated that he does not have any bitcoin in his portfolio. He instead maintained a liquid portfolio consisting of bitcoin and other hard asset equities. Salinas admitted, that ‘I absolutely don’t have any bonds. I have a liquid portfolio with 60% in Bitcoin and Bitcoin equities and 40% in hard asset companies like oil and gas and gold miners, and that’s where I am right now’. He then proceeded to slam bond investments, claiming that they were bad investments. Given the refusal of interest rates to rise and the global bond sell-offs that have resulted, the billionaire’s view on bonds is unsurprising.
Bonds are a bad way to invest. With a 10-foot pole, I wouldn’t touch a bond, the billionaire stated. It’s the absolute worst. The best thing that could happen to you is that you receive your $100 back. That’s the finest possible outcome. With a net worth of roughly $13 billion, Ricardo Salinas Pliego is the third richest man in Mexico. He is the owner of Grupo Elektra, a retail grocery chain that he inherited from his father, as well as TV Azteca, a Mexican television network.
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Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
