Mexican billionaire Ricardo Salinas, recognized as one of Mexico’s wealthiest individuals, has openly endorsed bitcoin despite the recent downturn in its market price. In a post shared on X, Salinas encouraged investors to view the current state of bitcoin as an opportunity. He stated, “Take advantage and buy now while it’s down,” emphasizing that investing in bitcoin serves as a protective measure against inflation and safeguards personal wealth from potential theft.
His comments come amidst a significant decline in bitcoin’s value, which has fallen to approximately $66,000 in recent months. This decline hasn’t deterred Salinas, who has long been a proponent of cryptocurrency. He reinforced his position by sharing an older video clip where he articulated bitcoin’s potential to promote personal freedoms and autonomy.
With an estimated net worth of around $4.9 billion, Salinas has emerged as one of the most ardent advocates for bitcoin in Latin America. His previous critiques of traditional fiat currencies, which he has referred to as a “fraud,” underscore his firm belief in bitcoin as a viable alternative for preserving purchasing power.
In a interview conducted last year, he revealed that a substantial portion—70%—of his liquid assets are connected to bitcoin, while he distributes the remaining 30% between gold and shares in gold mining companies. This allocation strategy highlights Salinas’ commitment to diversifying his investments within the realm of cryptocurrency and precious metals, reflecting his broader skepticism towards conventional financial systems.
