These days, the wealthy are playing more and more wildly! Mexican billionaire Ricardo Salinas (with a net worth of $5.8 billion) recently revealed that he has invested almost all of his assets in Bitcoin and gold! He boldly stated that 70% of his assets are allocated to Bitcoin, 30% to gold and gold mines, and stocks? Only his own company's, bonds? Nonexistent!
It’s worth noting that three years ago, his investment in Bitcoin was only 10%, and now it has soared to 70%, a true 'Bitcoin loyalist'! Not only is he hoarding it himself, but in 2021 he also made bold claims that he wanted his bank, Banco Azteca, to become the first bank in Mexico to accept Bitcoin. The Mexican central bank had to clarify that cryptocurrencies are not considered legal tender and prohibit their use in the country's financial system. Therefore, Banco Azteca has not yet incorporated BTC into its business.
But Salinas showed no signs of backing down, continuing to promote Bitcoin wildly on social media, attracting countless followers. He said Bitcoin is 'a tool for diversifying investment portfolios' and criticized the traditional financial system: 'Don't trust those paper bills, hard assets (BTC + gold) are the way to go!'
Bitcoin's 'comeback story' is unfolding, and its status as 'digital gold' is becoming increasingly solidified. Although Bitcoin is not yet able to be used globally for everyday purchases like the US dollar, its position as 'digital gold' is becoming more stable. Countries like El Salvador and Bhutan have already begun mining and accumulating BTC, viewing it as a strategic national asset.
At the same time, several US states (Kansas, Kentucky, Ohio, Texas) are also contemplating how to incorporate Bitcoin into their state treasuries, with Utah even passing a blockchain amendment to prepare for establishing BTC reserves!
Trump also advocated for the US to establish a cryptocurrency strategic reserve plan and suggested putting Bitcoin, Ethereum, XRP, SOL, and ADA on the reserve list. (Although experts and big names have criticized: Don't let altcoins get involved!)
However, the cryptocurrency market has also seen wild fluctuations in recent days, with Bitcoin's maximum volatility exceeding 15% this week, currently priced around $88,000. Even the exchange Bitfinex recently dampened enthusiasm by stating that mainstream assets like Bitcoin are increasingly resembling speculative assets rather than traditional store of value assets!
Conclusion:
Billionaire Ricardo Salinas's '70% gamble' is not only a personal declaration of departure from the traditional financial system but also a microcosm of Bitcoin's sprint toward 'digital gold' identity.
As sovereign nations and capital giants rush to enter the space, Bitcoin's scarcity and anti-inflation narrative are being amplified infinitely, but its volatility and regulatory challenges remain real constraints.
The core contradiction of this experiment lies in whether Bitcoin can find a mainstream balance amidst the tearing between 'speculative bubble' and 'store of value', which is equally worth paying attention to.
Meanwhile, Mexico's ban and legislation in other US states seem to be two sides of a scale. The answer may not lie in the present, but in every market collapse and policy relaxation at critical junctures.
Would you dare to bet 70% of your assets on Bitcoin like Mexican billionaire Salinas? Do you think Bitcoin can become 'digital gold'? Or will the bubble burst sooner or later?
