Key Points
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Mexican billionaire Ricardo Salinas now holds 70% of his investable portfolio in Bitcoin.
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According to Salinas, Bitcoin will continue to outperform other asset classes over time.
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Bitcoin could hit a price of $1 million within the next decade.
There are two types of Bitcoin (CRYPTO: BTC) investors. There are short-term momentum traders who prize Bitcoin’s impressive upside potential over brief periods. Then there are the long-term, buy-and-hold investors who view Bitcoin as the future of money.
Mexican billionaire Ricardo Salinas Pliego, founder and chairman of Grupo Salinas, is firmly in the second camp. He’s been a long-term believer in Bitcoin. Even amid the crypto market’s recent slide, he has remained undeterred. In fact, he still thinks Bitcoin is a better investment than real estate, making it a very attractive long-term buy.
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Bitcoin versus other asset classes
To understand why Salinas is so bullish on Bitcoin, you first have to view crypto as a stand-alone asset class. Just as you might allocate a specific percentage of your portfolio to stocks, bonds, or real estate, you could also allocate a specific percentage to Bitcoin.
Orange Bitcoin symbol under the Wall Street street sign.
Image source: Getty Images.
While most investors might be content to hold 1% to 2% of their portfolio in Bitcoin, Salinas is a Bitcoin maximalist. He has even advised people to mortgage their houses, and then invest that money into Bitcoin. That’s a bit much, even for longtime Bitcoin bulls.
To prove his point, he now holds a head-spinning 70% of his investable portfolio in Bitcoin. That’s admittedly a huge bet on the future of Bitcoin, and way beyond the recommended range for most investors.
However, this faith in Bitcoin is based on historical precedent. In January 2016, Bitcoin traded for just $400. If you wanted to buy a $1 million house, you’d need to spend 2,500 BTC. In 2026, Bitcoin now trades for $65,000. You now only need to spend 15 BTC to buy that same house.
Bitcoin continues to appreciate in value, while other currencies decline in value. Salinas points to the example of the U.S. dollar. Today, $1 only buys 15% of what it did back in 1976. Over time, Salinas expects it to lose even more of its purchasing power.
That’s not too far-fetched when you consider that the U.S. currently has a debt load of $39 trillion. The national debt is now bigger than the entire U.S. economy. The only way out, according to many analysts, is to print more money and inflate away the debt. However, that will only further drag down the dollar’s value.
Can Bitcoin really hit $1 million?
According to Salinas, Bitcoin could reach $1 million. That concurs with estimates made by the likes of Michael Saylor of Strategy (NASDAQ: MSTR), Cathie Wood of Ark Invest, and Brian Armstrong of Coinbase Global (NASDAQ: COIN). All have set $1 million price targets for Bitcoin.
The Mexican billionaire won’t give an exact date, but if Bitcoin’s exponential growth continues, it could happen within the next decade. Nothing is guaranteed, but that rise would make it a promising investment at today’s bargain price of just $65,000.
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Dominic Basulto has positions in Bitcoin. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool recommends Coinbase Global. The Motley Fool has a disclosure policy.