Mexican billionaire Ricardo Salinas says Bitcoin (CRYPTO: BTC) remains his preferred financial asset, arguing that fiat currencies are being debased globally.
Investors should treat crypto more like long-term property than a short-term trade, according to the billionaire.
“I Turn Fiat Into Bitcoin“
In a CoinDesk interview on June 17, Salinas highlighted his exposure to Bitcoin has increased during the recent market pullback. Over the past year, BTC prices plunged around 40%.
“As soon as I get my hands on some fiat, I turn it into Bitcoin,” Salinas said.
The Grupo Salinas chairman clarified that earlier comments about his wealth being heavily allocated to Bitcoin referred to his liquid financial portfolio, not his total net worth, which includes businesses, homes, boats, planes and other real assets.
Salinas said about 80% of his liquid investment portfolio is now …
