Mexican billionaire Ricardo Salinas revealed that 70% of his investment portfolio consists of Bitcoin-related assets

ChainCatcher news, according to Bloomberg, Mexican billionaire Ricardo Salinas plans to privatize his company Grupo Elektra SAB as early as May to escape the constraints of the public market and operate the business independently. Salinas is currently involved in legal disputes with the Mexican government over a tax issue amounting to 6.3 billion pesos (approximately 300 million dollars), while also trying to recover funds lost due to a loan fraud.

In November 2023, Elektra applied for a trading suspension to prevent the sale of shares pledged for loans by Salinas, which subsequently led to a 70% drop in stock prices, resulting in a loss of about 5 billion dollars in his net worth. Salinas stated that after privatization, Elektra would restructure its business divisions and might seek partners instead of financing through debt or equity. He also revealed that 70% of his investment portfolio consists of Bitcoin-related assets, while 30% is in gold and gold mining company stocks.