How a Latin American Tycoon Built a Portfolio Where Bitcoin Dominates: The Salinas Case Study

Ricardo Salinas, the billionaire head of Grupo Salinas, has made headlines with an unconventional investment strategy that sees bitcoin occupying a dominant position in his wealth allocation. According to recent statements, his portfolio is structured in a striking way: 70% allocated to bitcoin and related digital assets, while the remaining 30% consists of precious metals and equity stakes in his own enterprises.

The Evolution of a Bitcoin Conviction

What makes Salinas’ position particularly noteworthy is the trajectory of his bitcoin exposure. Back in 2020, his cryptocurrency allocation stood at just 10% of his investment portfolio. This significant shift—from single-digit exposure to a supermajority position—reflects a deepening conviction in digital assets as a hedge against currency volatility and economic uncertainty. Given Mexico’s macroeconomic challenges and inflation pressures, holding assets uncorrelated to local currencies makes strategic sense, especially when considering alternatives like bitcoin to euro conversions or other currency pairs that protect against regional devaluation.

Salinas has been explicit about his portfolio construction: “I don’t have a single bond, and I don’t have any other stocks except my own.” This statement underscores an extreme concentration bet, eliminating traditional fixed-income exposure entirely—a bold move that places him squarely among the world’s most aggressive institutional bitcoin advocates.

From Personal Strategy to Banking Reform

The billionaire’s commitment extends beyond personal holdings. He has announced plans to establish Banco Azteca as Mexico’s first bank to accept bitcoin, signaling an intent to institutionalize cryptocurrency acceptance within the traditional banking infrastructure. This move could have ripple effects across the Mexican financial system, potentially opening doors for other institutions to follow.

The Broader Context: Legal Challenges and Market Dynamics

With a net worth estimated at $4.8 billion, Salinas commands significant resources. Yet his recent years have been marked by considerable headwinds. His flagship company, Grupo Elektra, experienced a dramatic 70% stock price decline in the previous year, erasing nearly $5 billion from his wealth. Additionally, he faces ongoing legal disputes with Mexican authorities regarding tax obligations—challenges that could further pressure his liquid asset position.

In response, Salinas is pursuing the delisting of Grupo Elektra from public markets, a move intended to liberate him from shareholder scrutiny and grant operational flexibility. “Despite all the problems in Mexico, our businesses are doing well,” he has stated, projecting confidence amid turbulence. “Now I’m free to do my thing.”

Bitcoin as Strategic Conviction Amid Adversity

Rather than retreat from risk assets during difficult times, Salinas has doubled down on bitcoin. This positioning reflects either extraordinary conviction or a calculated bet that digital currencies will appreciate faster than his other assets will depreciate. For a figure of his stature and resources, this 70% allocation represents one of the highest-profile endorsements of cryptocurrency as a core wealth preservation tool in Latin America.

His strategy effectively positions bitcoin as the centerpiece of his financial architecture—not as speculation, but as foundational wealth protection strategy. Should his thesis prove correct, Salinas could emerge as one of the most prescient wealthy individuals of this era, cementing his legacy as a pioneering corporate advocate for cryptocurrency adoption at scale.