Mexican Billionaire Invests 70% of Portfolio in Bitcoin, Calls it Better than Real Estate

Mexican billionaire Ricardo Salinas Pliego has an estimated net worth of $5 billion and allocates 70% of his investment portfolio to Bitcoin. He believes that traditional fiat currencies inevitably lose purchasing power over time, making Bitcoin a more attractive long-term investment.

In an interview with CoinDesk, Salinas shared how he convinced his wife to mortgage their house to buy more Bitcoin, saying '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 points out that Bitcoin's long-term appreciation relative to real estate is evidence of its value. He notes that in January 2016, the price of Bitcoin was around $400, while a house in Central London sold for an average price of $1.6 million or 4,000 Bitcoin. With home prices remaining basically unchanged ten years later, that same purchase would require less than 30 Bitcoin.