• Markets
  • Crypto
  • Web3
  • Culture
  • Opinion
  • Politics
Subscribe
  • Login
  • Register
No Result
View All Result
  • Markets
  • Crypto
  • Web3
  • Culture
  • Opinion
  • Politics
No Result
View All Result
No Result
View All Result

Mexico’s Richest Man Ricardo Salinas Has 60% in Bitcoin

07/04/2022 14:47
No comments
Ricardo Salinas at Bitcoin 2022

Ricardo Salinas Pliego (pictured), one of the richest man in Mexico with a net worth of $13.6 billion, stated during Bitcoin 2022 that 60% of his liquid portfolio is in bitcoin.

“I definitely don’t have any bonds,” Salinas said. “In the liquid portfolio, I have 60% in bitcoin and bitcoin equities. And then 40% in hard asset stocks like oil and gas and gold mining.”

The billionaire shared his experience of hyperinflation in Mexico during the 80s. After university, he said, he was earning $2,000 a month. Six years later, he was earning $20 a month.

We used to go to the dollar, he said, to save. But now, with all that’s going on, a $2,000 salary in America may also go down to $20. The trajectory is that way.

He called bonds the worst investment of any asset as if you put in $100, you’d be lucky to get $100 back.

In a discussion of the 60/40 traditional portfolio allocation, where 60% is attributed to equities and 40% in bonds, there were suggestions that out of that $200 trillion, 10% might go to bitcoin.

That would be $20 trillion, sending BTC to one million per coin. In that context Salinas said his 60/40 is in bitcoin and hard assets.

He did not specify the amount in his liquid portfolio, but this revelation makes him the first billionaire to announce he is pretty much all in on bitcoin.

That’s after he previously called fiat a fraud, and reiterated that today with the billionaire further putting his money where his mouth is.

Hyperinflation destroys pensions, he said. It hits the old hardest as it destroys their savings, and it hurts the poor. We need to be able to point fingers at who is responsible, he said.

If I print money, it’s counterfeiting, I go to jail. If they print, they’re promoted to the Treasury, he concluded.

Related Posts

Ethereum, the burning, Aug 2022

EthereumPoW to Remove EIP1559

US Bureau of Labor Statistics

Bitcoin Jumps as US Inflation Falls to 8.5%

LUSD’s Token Jumps, RAI’s Rises 50%

Infura Censors Tornado Cash Smart Contract

Load More
  • Trending
  • Comments
  • Latest
Proof of Work/Stake

Proof of Stake vs Proof of Work

ETHW's price, Aug 2022

ETHW Starts Trading at $135

Ethereum, the burning, Aug 2022

EthereumPoW to Remove EIP1559

Alireza Peyman Pak, file photo

Iran Pays with Crypto For $10 Million Import

Ethereum, the burning, Aug 2022

EthereumPoW to Remove EIP1559

US Bureau of Labor Statistics

Bitcoin Jumps as US Inflation Falls to 8.5%

RAI Spikes, Aug 2022

LUSD’s Token Jumps, RAI’s Rises 50%

Infura RPC censorship, Aug 2022

Infura Censors Tornado Cash Smart Contract

Comments

Latest News

  • EthereumPoW to Remove EIP1559
  • Bitcoin Jumps as US Inflation Falls to 8.5%
  • LUSD’s Token Jumps, RAI’s Rises 50%

About Trustnodes

Terms of Service

Privacy Policy

Our Ethics and Values

Trustnodes Newsletter

Trustnodes © 2017-2022. All Rights Fully Reserved. For any Enquiries contact@trustnodes.com RSS Feed

No Result
View All Result
  • Login
  • Sign Up
  • Cart
  • Markets
  • Crypto
  • Web3
  • Culture
  • Opinion
  • Politics

Trustnodes © 2017-2022. All Rights Fully Reserved. For any Enquiries contact@trustnodes.com RSS Feed

Welcome Back!

Login to your account below

Authenticate with MetaMask Loading...

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?