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I Have 60% In Bitcoin And Bitcoin Equities Says Mexican Billionaire Ricardo Salinas Pliego

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According to Mexican billionaire Ricardo Salinas Pliego, who told delegates at a conference in Miami on Thursday that Bitcoin is a smart location to invest, the bulk of his liquid portfolio has exposure to the world’s most valuable cryptocurrency.

“I definitely don’t have any bonds,” and in a liquid portfolio, “I have 60% in bitcoin and bitcoin equities and then 40% in hard-asset stock like oil and gas and gold miners and that’s where I am,” In a video clip shared on Documenting Bitcoin’s Twitter account, Salinas Pliego stated on a panel at the Bitcoin 2022 conference in Miami.

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According to Forbes, Salinas Pliego’s net worth was around $12.9 billion as of Thursday, and he runs Mexican TV broadcaster TV Azteca and retailer Grupo Elektra. In 2021, Forbes listed him as the third-wealthiest person in Mexico.

Bonds were avoided by Salinas Pliego before noting the broad breakdown of his liquid holdings. His comments come as the global bond market fell substantially in 2022 as the Federal Reserve and other central banks strive to reduce excessive inflation by hiking interest rates and tightening monetary policy.

Bank of America predicted in late March that the return on US bonds would be the poorest since 1949. The bond market’s volatility and drawdowns have raised concerns about the traditional 60/40 stock/bond portfolio split.

“Bond investment is a terrible investment. I wouldn’t touch a bond with a 10-foot pole. It’s just the worst thing. I mean, the best thing that can happen to you is you get back your $100. That’s the best thing that can happen,” Salinas Pliego mentioned.