{"id":487803,"date":"2022-04-08T23:00:40","date_gmt":"2022-04-08T23:00:40","guid":{"rendered":"https:\/\/wncen.com\/?p=487803"},"modified":"2024-06-11T08:11:20","modified_gmt":"2024-06-11T08:11:20","slug":"mexicos-third-richest-man-says-no-to-bonds-yes-to-bitcoin","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/mexicos-third-richest-man-says-no-to-bonds-yes-to-bitcoin\/","title":{"rendered":"Mexico\u2019s Third Richest Man Says No To Bonds, Yes To Bitcoin"},"content":{"rendered":"
Ricardo Salinas Pliego is the third richest man in Mexico who has been making headlines for his stance on bitcoin. The billionaire saw Elektra, a supermarket chain, become the first to accept bitcoin payments in the future. He has also been a strong advocate for investing in the digital asset as opposed to traditional assets. This time around, the billionaire has shocked investors after revealing that he now holds the majority of his portfolio in bitcoin.<\/p>\n
During the Bitcoin conference that is being held in Miami, billionaire Ricardo Salinas made a shocking revelation. He said that the majority of his portfolio was in bitcoin and bitcoin equities, making up a total of 60% of the said portfolio. This is up significantly from the 10% of his total net worth that Salinas had said was in the digital asset<\/a> last year. Going by this means that Salinas currently has billions of dollars worth of exposure to the pioneer cryptocurrency.<\/p>\n Bit<\/i><\/b><\/p>\n Although the allocated portion of the billionaire\u2019s portfolio to bitcoin is large, it is no surprise that he chose to take the plunge. For the longest time, Salinas has been advising investors to put a portion of their portfolios into the digital asset. Often advising against storing wealth in fiat currencies<\/a>.<\/p>\n <\/p>\n Bonds have been a way for the ultra-wealthy to secure safe returns for the longest time. However, with inflation rates rising faster than the interest rates on these bonds, interest in them has declined over time and Salinas looks to have sworn them off completely.<\/p>\n When asked about his portfolio allocation, the billionaire said that he did not have any portion of his portfolio in bitcoin. Rather, he had a liquid portfolio that was made up of bitcoin and other hard asset stocks. \u201cI definitely don\u2019t have any bonds,\u201d Salinas revealed. \u201cI have a liquid portfolio\u2014I have 60% in Bitcoin and Bitcoin equities, and then 40% in hard asset stocks like oil and gas and gold miners, and that\u2019s where I am.\u201d<\/p>\nBTC continues on downtrend | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
It\u2019s A No For Bonds<\/h2>\n