Mexico’s Third Richest Man Says No To Bonds, Yes To Bitcoin

Name	Symbol	Market	Market Cap ($)	Algorithm
BOND	BONDDUSD	Crypto	790,837,097	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

BOND

BONDDUSD

Crypto

790,837,097

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.005643	0.27%	2.06	2.06	2.09

Price Change

Price Change %

Current Price

Bid Price

Offer

0.005643

0.27%

2.06

2.09

High Price	Low Price	Open Price	Prev. Close	52 Week Range
2.06	2.05	2.05	2.06	0.936974 - 109.75

High Price

Low Price

Open Price

Prev. Close

52 Week Range

2.06

2.05

2.06

0.936974 - 109.75

Exchange	Last Trade	Size	Trade Price	Currency
GATE	02:27:05	9.89	2.03	USD

Exchange

Last Trade

Size

Trade Price

Currency

GATE

02:27:05

9.89

2.03

USD

Price x Volume	Volume	Base Symbol	Related Pairs
76.91	37.86	BONDD

Price x Volume

Volume

Base Symbol

Related Pairs

76.91

37.86

BONDD

Mexico’s Third Richest Man Says No To Bonds, Yes To Bitcoin

09/04/2022 12:00am

NEWSBTC

Ricardo Salinas Pliego is the third richest man in Mexico who has been making headlines for his stance on bitcoin. The billionaire saw Elektra, a supermarket chain, become the first to accept bitcoin payments in the future. He has also been a strong advocate for investing in the digital asset as opposed to traditional assets. This time around, the billionaire has shocked investors after revealing that he now holds the majority of his portfolio in bitcoin. 60% To Bitcoin During the Bitcoin conference that is being held in Miami, billionaire Ricardo Salinas made a shocking revelation. He said that the majority of his portfolio was in bitcoin and bitcoin equities, making up a total of 60% of the said portfolio. This is up significantly from the 10% of his total net worth that Salinas had said was in the digital asset last year. Going by this means that Salinas currently has billions of dollars worth of exposure to the pioneer cryptocurrency. Bit Although the allocated portion of the billionaire’s portfolio to bitcoin is large, it is no surprise that he chose to take the plunge. For the longest time, Salinas has been advising investors to put a portion of their portfolios into the digital asset. Often advising against storing wealth in fiat currencies. BTC continues on downtrend | Source: BTCUSD on TradingView.com It’s A No For Bonds Bonds have been a way for the ultra-wealthy to secure safe returns for the longest time. However, with inflation rates rising faster than the interest rates on these bonds, interest in them has declined over time and Salinas looks to have sworn them off completely. When asked about his portfolio allocation, the billionaire said that he did not have any portion of his portfolio in bitcoin. Rather, he had a liquid portfolio that was made up of bitcoin and other hard asset stocks. “I definitely don’t have any bonds,” Salinas revealed. “I have a liquid portfolio—I have 60% in Bitcoin and Bitcoin equities, and then 40% in hard asset stocks like oil and gas and gold miners, and that’s where I am.” Related Reading | The NFL’s First Team To Accept Crypto? The Tennessee Titans He proceeded to blast bond investments which he said were a terrible choice. Given that interest rates have refused to go up and the resulting bond sell-offs that have been taking place globally, the billionaire’s stance on bonds is not a shock. “Bond investment is a terrible investment. I wouldn’t touch a bond with a 10-foot pole,” the billionaire said. “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.” Ricardo Salinas Pliego is rated as the third richest man in Mexico with a net worth o around $13 billion. He owns Grupo Elektra, a retail supermarket chain, a company that he inherited from his father, and TV Azteca, a Mexican TV broadcaster. Featured image from OI Canadian, chart from TradingView.com

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