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Mexican tycoon and chairman of Grupo Salinas, Ricardo Salinas Pliego, just dropped a bomb on X this past week. The billionaire shared his predictions on Bitcoin (BTC), estimating the cryptocurrency to surge significantly from its current levels. Of course, this comes as no surprise following a separate X post wherein he expressed his hatred of fiat currencies. As a result, the chairman believes cryptocurrency will be the new store of wealth and eventually surpass gold in value.
The Real-World Case for Bitcoin’s Rise
As far-fetched as it may sound, Salinas might not be wrong in his predictions when looking at the impact of cryptocurrencies on varying sectors. Instead of just institutional interest, there is real-world, ground-up adoption that validates the billionaire’s claim. Currently, there is an array of companies and sectors that have integrated BTC as a default, allowing users to bypass the legacy TradFi system (which can be slow and pricey).
Through using BTC (alongside other more popular cryptocurrencies) as a peer-to-peer payment rail, these sectors have experienced exponential growth. For example, the iGaming industry has some of the best bitcoin casino usa has to offer, offering players greater privacy, faster payments, and complete control over their funds, features offered via digital assets.
Crypto’s Expanding Global Footprint
By 2024, the global crypto market had experienced significant growth, reaching $250 million. This is a $200 million increase from $50 million in 2019, with the most popular crypto being Bitcoin. Of course, this is one instance of a sector where individuals have voted for decentralized finance with their wallets, further proving Salinas’ point.
Major retailers have also integrated crypto payments into their services, with the retail & e-commerce sector seeing 76 companies offer the option to purchase with it. This includes major brands like Yankee Candle and Adidas. Uber Eats, DoorDash, Domino’s, Chipotle, and even Chuck E Cheese’s all accept crypto payments, placing the food & dining sector as a close second with 72 companies.
Institutional Capital: The Catalyst for a $1.5M BTC
For the value of BTC to see a 14x surge and catch up to (and eventually outperform gold), it will require more than just retail use. The massive $1.5 million BTC price target will require institutional capital, which is currently flooding the market.
Already, huge TradFi companies like Fidelity and BlackRock have entered the crypto space through ETPs (specifically, US Spot Bitcoin ETPs). These exchange-traded products (ETPs) will act as the true catalyst for massive, regulated capital pools. Where family offices, pension funds, and endowments were previously barred by compliance rules, ETPs will act as the final “on-ramp” for these. In turn, this places Salinas’ prediction as more a calculated possibility rather than a wild fantasy.
The Vision: Freedom from Traditional Finance
Standing as the most vocal Latin American Bitcoin advocate, he further explained his stance on BTC, pointing out that there are systemic flaws with traditional finance. This thought process stems from his view of government interference in an individual’s money, claiming that this takes away value.
In his book, The Bitcoin Enlightenment, the billionaire further drove this point home, alluding to Bitcoin being a paradigm shift for global finance. He also provided a look into his personal portfolio strategy, encouraging individuals to invest their savings in Bitcoin for true growth and prosperity.
Political Endorsements Strengthening Crypto Adoption
There are already aggressive institutional adopters of cryptocurrencies, with one of them being President Donald Trump’s crypto hedge fund. Having such a prominent political figure driving the adoption of cryptocurrencies further helps in increasing the inherent value of BTC.
Although Trump did not invest in BTC (but rather a meme coin), it is still a step in the right direction to ensure global institutional adoption. Trump has even gone so far as to encourage Americans to use their retirement funds to invest in crypto, alongside hosting events to further encourage industry leaders to invest.
