Mexican Billionaire Says 70% of His Portfolio Is in Bitcoin, Calls It Better Than Real Estate

Mexican billionaire Ricardo Salinas Pliego says Bitcoin is a better long-term investment than real estate.

In a June 17 interview with CoinDesk, Salinas said 70% of his investment portfolio is in Bitcoin.

Salinas heads Mexican conglomerate Grupo Elektra. His net worth is estimated at about $5 billion.

He said individual investors should consider shifting part of their home equity into Bitcoin exposure. For most people, home equity is their largest investment and retirement asset, he said, and they should find a way to convert some of it into Bitcoin exposure.

Salinas described Bitcoin as "the modern version of gold." Scarce assets preserve value, while fiat currencies lose value over time, he said. Bitcoin will reach $1 million, he added, though he does not know when.