Bitcoin
Mexican billionaire Ricardo Salinas Pliego allocates 10% of liquid assets to Bitcoin
Billionaire Ricardo Salinas Pliego has disclosed that 10% of his liquid portfolio is invested in Bitcoin, with the remainder placed in precious metals miners.
Mexican billionaire Ricardo Salinas Pliego, founder and head of Grupo Salinas and the second-richest person in Mexico with an estimated net worth of $13.2 billion, revealed on social media that 10% of his liquid portfolio is held in Bitcoin.
Salinas Pliego clarified in an exchange with Kraken's Dan Held that the 10% allocation applies specifically to his liquid holdings rather than his entire net worth, adding that the remaining 90% is invested in precious metals mining companies. He noted that he first entered Bitcoin in 2016 through Grayscale when the asset traded around $800.
Prior to the disclosure, Salinas Pliego criticized government-issued fiat currency as vulnerable to inflationary expropriation and recommended Saifedean Ammous's book "The Bitcoin Standard," arguing that the digital asset serves to protect citizens from state expropriation.
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