Mexican Billionaire Invests $40M to Back Bitcoin-Focused Permanent Capital Company
Mexican billionaire Ricardo Salinas Pliego, who has allocated 80% of his liquid assets to Bitcoin (BTC), recently led a $40 million capital raise for ORANGE JUICE HODLINGS. The Connecticut-based permanent capital company aims to acquire and own American businesses while pursuing a Bitcoin treasury strategy. Cash flow from the acquired companies will be reinvested into further acquisitions or added to its Bitcoin holdings, according to the firm's announcement. Salinas praised the model as an alternative to traditional private equity, emphasizing his belief in Bitcoin’s value retention due to its capped supply of 21 million coins compared to fiat currencies that can lose value through inflation. Salinas noted significant investor interest following the raise, with hundreds reaching out within a week. At the time of publication, BTC/USD was trading at $64,823.
Topics: billionaire activity Bitcoin investment strategy private equity