Mexican billionaire Ricardo Salinas remains bullish on bitcoin after plunge

Mexican billionaire Ricardo Salinas, one of that country’s richest individuals, hasn’t been shaken by the recent crash in the price of bitcoin.

“Take advantage and buy now while it’s down,” said Salinas in a Sunday X post. “Investing in Bitcoin is protecting your money against inflation and keeping it out of the hands of those who want to steal it from you.”

The comment from the longtime bull came following bitcoin’s plunge in recent months to its current level of $66,000. Salinas shared the message alongside an older clip of him defending bitcoin’s ability to support freedom, doubling down on a stance he’s held for years.

Salinas, whose estimated net worth is around $4.9 billion, has been one of Latin America’s most vocal bitcoin advocates. In past interviews, he’s described fiat currency as a “fraud” and called bitcoin “the only way out” for preserving purchasing power.

In an interview last year, he said 70% of his liquid assets were linked to bitcoin. The remaining 30% was in gold and shares of gold mining firms.