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 Bitcoin-related and miners, with the remaining 20% in gold and silver miners.

Why He Prefers Bitcoin

Salinas narrated his interest in sound money began at the family dinner table, where his father and grandfather often discussed gold after President Richard Nixon ended dollar convertibility into gold in 1971.

He recollected being introduced to Bitcoin around 2013, when it traded near $200 to $400, but initially viewed it like a stock. His thinking changed after reading "The Bitcoin Standard by Saifedean Ammous."

Salinas said he eventually concluded BTC was "a new and better form of money," adding that "it's not about BTC and gold. It's about Bitcoin and fiat or dollars. Gold and fiat," he said.

While Salinas argued Mexico's regulatory environment remains hostile toward crypto, he added that the country's large cash economy shows people are already trying to escape aggressive taxation and fiat controls, and crypto could become the next step.                 

The Bigger Picture

Salinas framed Bitcoin as a long-term savings asset rather than a trading vehicle.

"For most people, what they should think is as soon as you get some fiat, you want to get rid of it," he said. "Instead of buying some stuff, buy some Bitcoin and store it. And don't look at it."

Salinas also backed dollar-cost averaging into Bitcoin and said people should consider BTC exposure inside retirement accounts where possible.

His core view remains that Bitcoin's fixed supply and global demand make it an asymmetric long-term bet. "Supply is certainly over," Salinas said. "It's now all about demand."

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