- Salinas urges Bitcoin over real estate for investments.
- He highlights Bitcoin’s scarcity over real estate.
- His portfolio now holds 70% in Bitcoin.
Ricardo Salinas, a Mexican billionaire and Chairman of Grupo Salinas, recently advised citizens to buy Bitcoin instead of investing in real estate. He made this statement during an appearance on Robert Breedlove’s podcast, “What is Money?”
Salinas’ endorsement of Bitcoin underscores the cryptocurrency’s perceived deflationary nature. His shift from 10% to 70% Bitcoin allocation showcases a major endorsement of Bitcoin, suggesting a potential paradigm shift in wealth preservation strategies.
Salinas has strongly promoted Bitcoin, calling it a hard asset and advising against using real estate for investment. His recommendation has sparked mixed reactions on social media, with some supporting while others warning against such a high-risk approach.
Economic analysts note a lack of immediate institutional or regulatory response to Salinas’ remarks. The Bank of Mexico’s stance remains unchanged, categorically stating that cryptocurrencies are not legal tender within the country’s banking framework.
“My solution is you have a house. If you think that’s your investment, sell the house and buy Bitcoin. Because you can always make more houses. Bitcoin, you can’t make any more.” — Ricardo Salinas Pliego, Chairman, Grupo Salinas, on the “What is Money?” podcast.
His position might encourage further dialogue within the financial community, gauging Bitcoin’s long-term viability amid fiat currency volatility. Salinas’ significant cryptocurrency allocation reflects broader trends of growing cryptocurrency acceptance, though regulatory barriers persist.
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