Mexican Billionaire Salinas Reiterates $1.86 Million Bitcoin Target on Gold Benchmark

Ricardo Salinas Pliego, the Mexican billionaire, has revisited his long-term outlook for Bitcoin, using gold's overall market valuation as a yardstick that he says could drive the cryptocurrency to $1.86 million per unit.

Writing on X, the founder of Grupo Salinas stated that matching gold's market cap would necessitate that precise price level. He added that Bitcoin's adoption remains in its initial stages.

Salinas Pliego’s Long-Running Gold Comparison

Salinas has long drawn this comparison. In October 2025, following gold's milestone of becoming the first asset to hit a $30 trillion market capitalization, he forecast that Bitcoin would have to climb at least 14-fold, reaching approximately $1.516 million, merely to equal gold's value and then surpass it.

“If bitcoin were to achieve parity with gold market value, it would have to go up in price to $1.86 million per bitcoin. BTC = $1,860,000 USD It is still very early,” Salinas Pliego said on X.

Salinas has repeatedly described Bitcoin as a superior form of digital gold, emphasizing its greater portability, resistance to manipulation, and lack of physical storage and verification problems inherent to the precious metal.

The majority of Salinas's liquid portfolio is allocated to Bitcoin-linked assets, reportedly 70% to 80%, with the rest divided among gold and mining stocks. He considers both to be hedges against the debasement of fiat currencies, though he openly favors Bitcoin's limited supply and digital characteristics.

This comparison comes at a time of increasing institutional interest in hard assets. Bitcoin's correlation with gold recently hit a six-year peak, Bitwise research reports, as investors look for shelter from currency devaluation and fiscal stimulus, reminiscent of the post-2020 pandemic policy environment.

Analysts attribute the trend to fiscal calculations rather than yield curves or interest rate expectations, pointing out that every major advanced economy except Switzerland currently has a debt-to-GDP ratio exceeding 100%.

Other Prominent Voices Echo a Similar Thesis

Salinas is not the only one making this comparison. Michael Saylor has consistently referred to Bitcoin as digital capital, contending it surpasses so-called analog gold in transparency and performance.

Analyst Willy Woo has forecast Bitcoin prices reaching multiple millions if the asset secures a significant portion of gold's monetary function or wider global wealth storage.

Other market participants discussing market-cap equivalence point out that even a Bitcoin price of $1 million would only be a small part of gold's overall value, underscoring the same early-stage argument.

At the time of writing on September 4, Bitcoin is trading close to $79,450, per BeInCrypto data, with a market capitalization of approximately $1.56 trillion, still a small portion of gold's multi-trillion-dollar market.