Mexican billionaire with 70% of his investment portfolio in bitcoin says it's better than real estate
Key takeaways
- The allocation is unusually large by conventional portfolio-management standards, where wealth advisers typically recommend limiting exposure to highly volatile assets.
- “I know this is a controversial topic, but I convinced my wife to mortgage the house that she has and take a loan to buy bitcoin,” Salinas told CoinDesk.
- He says everyone should at least consider converting some of their home equity to bitcoin.
He is so convinced that bitcoin is the best long-term investment that he holds 70% of his investment portfolio in the digital asset, believing that traditional fiat currencies are destined to lose purchasing power over time. The allocation is unusually large by conventional portfolio-management standards, where wealth advisers typically recommend limiting exposure to highly volatile assets.
Salinas — whose company, Grupo Elektra, is one of Mexico's largest business groups, expanding across retail, banking, telecommunications and media — has such a strong conviction on bitcoin that he once advised his wife to mortgage her home and buy more of it. And she did.
“I know this is a controversial topic, but I convinced my wife to mortgage the house that she has and take a loan to buy bitcoin,” Salinas told CoinDesk.