Mexican billionaire Ricardo Salinas Pliego, worth an estimated $5 billion, revealed he holds 70% of his investment portfolio in bitcoin, citing fiat currency devaluation. He convinced his wife to mortgage her house to buy bitcoin. Salinas, owner of Grupo Elektra, views bitcoin as a scarce asset like gold, noting its outperformance of real estate since 2016—a London house worth 4,000 BTC in 2016 now costs under 30 BTC. He traces his distrust of fiat to family discussions after Nixon ended the gold standard. Salinas predicts bitcoin could reach $1 million but is uncertain when.

Key facts

• Ricardo Salinas holds 70% of his portfolio in bitcoin.
• He convinced his wife to mortgage her house to buy bitcoin.
• A London house sold for 4,000 BTC in 2016 now costs under 30 BTC.
• Salinas traces his fiat distrust to the end of the gold standard.
• He predicts bitcoin could reach $1 million.
• Salinas is a potential presidential candidate for Mexico's 2030 election.

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