Bitcoin (BTC) Price Prediction: Billionaire Investor Predicts $1 Million Target Based on Gold Comparison

TLDR

• Ricardo Salinas has allocated 70% of his personal liquid portfolio to Bitcoin and 30% to gold
• The billionaire holds no bonds or stocks outside his own companies
• Bitcoin’s current market cap is $2 trillion compared to gold’s $16 trillion
• Salinas believes Bitcoin could rise eight times to match gold’s value storage capacity
• He argues Bitcoin’s $1 million price target is a valuation adjustment, not speculation

Ricardo Salinas, one of Latin America’s wealthiest businessmen, has revealed an extreme concentration in Bitcoin. The Mexican billionaire disclosed that 70% of his liquid portfolio is now in Bitcoin-related exposure.

Salinas made his fortune through traditional businesses including retail, telecommunications, banking and media. His companies serve tens of millions of customers across Mexico. Despite these ties to conventional finance, his personal investment strategy has shifted dramatically.

The billionaire began allocating to Bitcoin in 2020 with a modest 10% position. By 2022, he said the majority of his liquid investments were in Bitcoin and Bitcoin-related equities. In a March 2024 Bloomberg interview, he confirmed he was “pretty much all-in” on Bitcoin.

His current allocation stands at 70% Bitcoin and 30% gold and gold miners. He holds no bonds and no stocks except his own companies.

Salinas has repeatedly criticized government-backed assets and fiat currencies. His skepticism intensified after pandemic-era stimulus programs. He argues excessive money printing weakens purchasing power and punishes savers.

The billionaire has pointed to Latin America’s monetary history as evidence. He has witnessed multiple currency collapses that wiped out savings for ordinary people. Bitcoin, he says, offers protection from what he calls “government expropriation.”

Bitcoin versus Gold Market Cap

Salinas recently laid out a mathematical comparison between Bitcoin and gold. At $105,000 per Bitcoin, the total supply of 20 million coins is worth approximately $2 trillion. Gold’s total value stands at roughly $16 trillion.

The gap between these two market caps forms the basis of his price prediction. If Bitcoin matches gold’s value storage capacity, it would need to rise eight times from current levels.

An eightfold increase would push Bitcoin beyond $800,000 per coin. For Salinas, this represents a valuation adjustment rather than speculation.

Bitcoin’s Fixed Supply

Salinas frames Bitcoin’s volatility as the cost of escaping government control. He maintains that price swings should not be confused with fundamental weakness. The asset’s structure remains unchanged regardless of short-term price movements.

Gold’s value relative to Bitcoin has been declining over time. Salinas points to this trend as supporting evidence for his thesis. He expects the relationship to continue shifting in Bitcoin’s favor as adoption increases.

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