Ricardo Salinas Pliego, popularly known in Mexico as 'Tío Ritchi,' is one of the wealthiest and most aggressive business magnates in the country. There are aspirations among his supporters for him to run for president in 2030. While he claims to rely solely on his own bank, Grupo Elektra, founded by his father, his investment strategies have not always been prudent, particularly during the cryptocurrency boom in spring 2021.

In a bold move, Salinas attempted to invest $400 million in Bitcoin but found himself cash-strapped. To leverage his wealth, he opted for a common strategy among the affluent: he instructed his advisors to secure a loan against the stocks of Elektra, thus employing a Lombard loan—a type of secured lending whereby the borrower's investment portfolio is utilized as collateral. Unfortunately for Salinas, this decision proved detrimental as the volatility of Bitcoin resulted in financial losses and unexpected complications.

This incident sheds light on the perils of high-stakes investment strategies, particularly in volatile markets like cryptocurrency, where even seasoned investors can face significant risks. As Salinas looks towards potential presidential aspirations, his financial decisions may be scrutinized, raising questions about the viability of relying on such precarious investment practices for future political leadership.