Mexican billionaire Ricardo Salinas, one of Latin America's wealthiest businessmen, has made a bold prediction for Bitcoin (BTC), forecasting a price target of approximately $1 million. This projection is based on a direct comparison between Bitcoin's current market capitalization and that of gold.
Salinas revealed that his personal liquid investment portfolio is now concentrated in just two assets: 70% is allocated to Bitcoin and Bitcoin-related equities, with the remaining 30% in gold and gold miners. He holds no bonds or stocks outside of his own companies. This allocation reflects a dramatic shift from his initial 10% Bitcoin position in 2020, evolving to what he described in a March 2024 interview as being "pretty much all-in" on the cryptocurrency.
The core of his prediction lies in a simple mathematical comparison. With Bitcoin's price around $105,000, its total market cap is approximately $2 trillion. In contrast, the total value of all gold is roughly $16 trillion. Salinas argues that if Bitcoin assumes a similar role as a global store of value, its market cap would need to increase eightfold to match gold's. This adjustment would push Bitcoin's price beyond $800,000, approaching the $1 million mark. He describes this not as speculation but as a fundamental "valuation adjustment."
Salinas's thesis is rooted in deep skepticism of government monetary policy and fiat currencies, a view intensified by pandemic-era stimulus programs. He points to Latin America's history of currency collapses as evidence of the risks of "government expropriation." He champions Bitcoin's fixed supply and decentralized structure as protection against inflation, calling it "the hardest asset in the world." While he declined to give a specific timeline, Salinas has expressed high confidence, stating, "I have no doubts that it will happen very shortly."
