- BITCOIN ANALYSIS
Bitcoin Becoming Increasing Share of Billionaire Portfolios
- More and more billionaires are buying Bitcoin.
- Bitcoin is becoming an increasingly important part of their portfolios.
- This trend could foreshadow broader adoption.
Recent reports have revealed that billionaires are dedicating an increasing portion of their portfolios to Bitcoin. This is an interesting development to follow as they may be ahead of broader adoption. As we discussed elsewhere, this trend is happening in parallel to a growing number of family offices - firms dedicated to the wealth management of ultra-high-net-worth families - also investing in Bitcoin and looking to increase their stake in the sector. The arrival of increasing amounts of private and institutional capital in Bitcoin could herald positive developments to come.
At Bitcoin 2022, Mexican Billionaire Ricardo Salinas Pliego announced that Bitcoin and Bitcoin equities now made up 60% of his portfolio. Salinas is ranked 151th on the Forbes world rich list and is the third richest man in Mexico with an estimated net worth of $13bn. Salinas runs a conglomerate of Mexican companies in media, and telecommunications, retail and finance. Earlier in the year, it was revealed that billionaire investor Bill Miller held 50% of his portfolio in Bitcoin and Bitcoin-related equity and that this portion of his portfolio was leveraged. He began buying Bitcoin at $200 after being convinced that it was a viable insurance against macroeconomic mismanagement. Billionaire Ray Dalio, for his part, recommended that retail investors should hold 1-2% of their portfolios in Bitcoin. After having doubted the prospects for Bitcoin, he recently admitted that he had invested in some himself and that he preferred it, as an asset class, to bonds in an inflationary scenario. Billionaire investor Stanley Druckenmiller also admitted to owning Bitcoin and thought it would perform better than gold.
As billionaires and family offices keep investing in Bitcoin, smaller investors may also follow suit. Bitcoin may soon no longer be considered an “exotic” or high-risk investment and will become an increasing part of all well-diversified investment portfolios. This may also lead it to decouple from the traditional equity markets.
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Nothing in this article constitutes professional and/or financial advice. The content is provided exclusively for informational and/or educational purposes. Nothing is to be construed as an offer or a recommendation to buy or sell any type of asset. Seek independent professional advice in regards to financial, tax, legal and other matters.
