Mexico Billionaire "All-in 70% of Investment Assets" Says "Bitcoin (BTC) will go to $1 Million"

▲ Bitcoin (BTC)

A Mexican billionaire, who has put 70% of his investment assets into Bitcoin (BTC), has predicted it will reach $1 million.

According to the US economic media outlet TheStreet on June 18 (local time), Mexican billionaire Ricardo Salinas Pliego has been a long-time supporter of Bitcoin. He believes that the purchasing power of fiat currency will continue to decline.

Salinas argued that individual investors should convert a portion of their home equity into Bitcoin exposure. He explained that this allows them to expect both the value of their homes and Bitcoin to rise.

He predicted that Bitcoin would yield higher returns than real estate in the long run. He evaluated Bitcoin as an asymmetric investment with high upside potential. He stated that the more investors learn about Bitcoin, the more demand for it will increase.

Salinas also compared the long-term value of gold and the dollar. Gold was approximately $125 per ounce in July 1976. Currently, it has surpassed $4,500. In contrast, the purchasing power of the dollar is only about 15% of what it was in 1976.

Salinas emphasized that scarce assets retain their value in the long term. He also holds stakes in gold mining companies. He described Bitcoin as a modern scarce asset. He did not provide a short-term price target. However, he stated, "It will be $1 million. I don't know when."

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