This Billionaire Has 60% Of His Liquid Funds In Bitcoin; Why He Says No To Bond Investments

Zinger Key Points
  • Ricardo Salinas Pliego had only 10% of his portfolio investment in Bitcoin in 2020.
  • Salinas had a net worth were around $12.7 billion as of last week.

Mexico’s third-richest man and a strong bitcoin advocate, Ricardo Salinas Pliego has said that Bitcoin is a good place to be investment-wise. 

During a recent conference, he said that the majority of his liquid portfolio is in Bitcoin BTC/USD

He also mentioned that he doesn’t own any bonds and always preferred to have an investment in Bitcoin.    

"I definitely don't have any bonds," and in a liquid portfolio, "I have 60% in bitcoin and Bitcoin equities and then 40% in hard-asset stock like oil and gas and gold miners and that's where I am."

He talked through his concerns about people being onboarded into the space by individuals who are pressuring for 100% allocation into the Bitcoin. 

“You don’t have to be all in. Furthermore, when you buy your first bitcoin, and I’ve orange-pilled a lot of friends, they check the price every five minutes. Get off the damn phone,” he added. 

Also Read: Warren Buffett Is 'Bitcoin Enemy No.1,' A 'Sociopathic Grandpa From Omaha,' Says Peter Thiel

Advocating about Bitcoin, he further said, “Unfortunately, it’s curtains for the U.S. Sell your sh*tcoins, and buy bitcoin.”

Talking about the bond market and how it has sharply sold off in 2022, Salinas said, “Bond investment is a terrible investment. I wouldn't touch a bond with a 10-foot pole. It's just the worst thing. I mean, the best thing that can happen to you is you get back your $100. That's the best thing that can happen.”

In 2020, Salinas had only 10% of his portfolio investment in Bitcoin, and at that time he described Bitcoin as an asset that “protects the citizen from government expropriation.”

Salinas runs Mexican TV broadcaster TV Azteca and retailer Grupo Elektra, and his net worth were around $12.7 billion as of last week.

Also Read: Dogecoin Co-Creator's Salty Take On Miami Bitcoin Conference: 'Cringe And Crashes'

Photo: Courtesy of sally anderson on flickr

 

Posted In: BitcoincreationinvestmentMexicoRicardo SalinasRichest PersonwealthCryptocurrencyNewsBondsTop StoriesMarkets

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