This Mexican billionaire who invested 10% of his fortune in bitcoin

Posted on Dec. 2020 at 10:50Updated Dec 2, 2019 2020 at 16:16

Ricardo Salinas Pliego, the third richest person in Mexico with $ 13.2 billion, said in early November that 10% of his portfolio of financial assets was invested in bitcoin. This close to Mexican President Andrés Manuel López Obrador, founded the diversified group Salinas (Telecommunications, television channels, finance, media, retail…).

For his personal finances, he implemented the principle of a distribution of capital over various assets. Little correlated to traditional financial markets, bitcoin brings diversification (return, risks) to a portfolio. The billionaire started investing in bitcoin in 2016 when its price was worth between $ 400 and $ 1,000, compared to nearly 20 times more today. Active he judges ” revolutionary “, bitcoin “Protects the citizen from government expropriation” that constitute galloping inflation and the loss of value of the currency.

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