Salinas Predicts $1.86 Million Bitcoin Price, Citing Gold Parity Potential

Renowned Mexican billionaire Ricardo Salinas Pliego has reiterated his bullish outlook on Bitcoin (BTC), predicting it could reach $1.86 million in value. This prediction is based on his argument that if BTC reaches parity with gold's market value, its price would need to increase to around $1.86 million per coin.

Salinas' conviction in Bitcoin's potential is reflected in his own portfolio, which allocates 70% of the liquid financial assets he manages to the cryptocurrency. This includes a significant portion of his wealth that he converts into BTC as soon as possible.

His prediction is not new, and Salinas has previously estimated that BTC would need to reach $1.516 million by 2025 to match gold's market capitalization. Other analysts also see higher valuations for Bitcoin if it captures a significant share of gold's role in global wealth storage.