America

Major

Jeff

Bitcoin

Mexican billionaire <a href="https://www.thestreet.com/crypto/markets/billionaire-holds-70-of-portfolio-in-asset-better-than-real-estate" rel="noopener noreferrer nofollow">Ricardo Salinas Pliego</a> is a vocal <a href="https://www.thestreet.com/crypto/bitcoin" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) proponent who never misses a chance to talk about what he believes are the advantages offered by the cryptocurrency.
The billionaire holds 70% of his investment portfolio in Bitcoin, believing fiat currencies are going to lose their purchasing power over time.
Salinas thinks Bitcoin could hit $1 million, but he hasn't committed to a deadline yet.
<a href="https://www.thestreet.com/crypto/markets/major-gold-holder-dumps-millions-as-gold-falls-below-4000" rel="noopener noreferrer nofollow">Related: Major gold holder dumps millions as gold falls below $4,000</a>
<h2 id="ricardo-salinas-invests-in-bitcoin-treasury">Ricardo Salinas invests in Bitcoin treasury</h2>
On July 15, it was <a href="https://www.prnewswire.com/news-releases/orange-juice-raises-40-million-to-launch-permanent-capital-company-backed-by-a-bitcoin-treasury-302826408.html" rel="noopener noreferrer nofollow">revealed</a> that the&nbsp;Grupo&nbsp;Salinas&nbsp;founder and chairman is participating&nbsp;as an anchor investor in&nbsp;ORANGE JUICE HODLINGS,&nbsp;a permanent capital company building a Bitcoin treasury company.
The Connecticut-based company disclosed that it has raised&nbsp;$40 million to launch a permanent capital company to acquire and permanently own American businesses&nbsp;and simultaneously pursue a Bitcoin treasury strategy.
Cash generated by the businesses will be reinvested into acquisitions or the Bitcoin treasury, with conservative use of leverage and capital markets, the company said.
<h3 id="trending-on-thestreet-roundtable">Trending on TheStreet Roundtable</h3>
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ORANGE JUICE was founded by partners from ego death capital, a leading Bitcoin venture capital firm, including Jeff Booth, Lyn Alden, Nico Lechuga, and Andi Pitt.&nbsp;
The company said it intends to pursue a public listing in the future to provide a liquid ownership currency and access to capital markets.
<blockquote>
 "I have built a diversified conglomerate serving millions of customers in Latin America and employing over 170,000 people. From this I have learned two things: cash flow is king, and you cannot count on governments to protect the value of your money,"&nbsp;Salinas, an anchor investor in the company's latest raise, said. "ORANGE JUICE is built on both — cash flowing companies and a Bitcoin treasury. That is why I am backing this team."
</blockquote>
Bitcoin was trading at $64,204 at the time of writing,&nbsp;<a href="https://app.decibel.trade/trade/BTC-USD" rel="noopener noreferrer nofollow">as per Decibel</a>.
<a href="https://www.thestreet.com/crypto/markets/mysterious-trader-buys-millions-ahead-of-trumps-white-house-meeting" rel="noopener noreferrer nofollow">Related: Mysterious trader buys millions ahead of Trump's White House meeting</a>

Billionaire with 70% of portfolio in Bitcoin makes bold investment

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