Mexico’s Third Richest Person: Buy Bitcoin Right Now

One of the wealthiest Mexicans – Ricardo Salinas Pliego – continues together with his help for bitcoin by urging traders to allocate money to it. Comparing the first cryptocurrency to gold, he gave his desire to the previous.

It’s The New Gold

The Mexican billionaire businessman and Founder of Grupo Salinas – Ricardo Salinas Pliego – has been a bitcoin advocate for years. Last year, he admitted he began investing within the main digital asset in 2016 when it stood round $800.

In June 2021, Salinas Pliego opined that BTC is a monetary instrument that has “international value.” It is “traded with enormous liquidity,” and for that motive, each investor ought to personal parts of it. Shortly after, he labeled all fiat currencies as “fraud” and stated he would maintain solely bitcoin for the following 30 years if he had to decide on.

In a latest tweet, the Mexican doubled down on his help, advising folks to enter the BTC ecosystem as quickly as doable. He additionally slammed the USA, particularly the Federal Reserve, for “the scale of fake money” it has created.

It is price noting that the central banking system of the States printed trillions of {dollars} to scale back the financial blow that the COVID-19 pandemic precipitated. However, the huge amount of money in circulation together with different controversial financial insurance policies has led to growing inflation charges globally.

On the opposite hand, bitcoin is finite as there will likely be solely 21 million BTCs ever to exist. As such, many view the asset as a hedge in opposition to inflation and an applicable funding answer throughout a financial disaster. Paul Tudor Jones and Jordan Peterson are among the many examples.

Salinas Pliego, referred to as Mexico’s third-richest man, can also be a supporter of that assertion. He added that bitcoin is “the new digital gold.” Both belongings have comparable use-cases, however the cryptocurrency is superior as a result of transporting it’s “so much easier than having gold in your pockets,” he concluded.

Ricardo Salinas Pliego. Source: Bloomberg

Banco Azteca Was About to Offer BTC Services

Grupo Salinas is the dad or mum company of Banco Azteca (one of many main banks in Mexico). In June this year, Salinas Pliego introduced his intentions to supply crypto alternatives to purchasers of the monetary establishment.

However, the nation’s Central Bank, the Ministry of Finance, and the National Banking and Securities Commission reiterated that digital belongings are usually not thought-about money based on the present regulation in Mexico. Therefore, banks should not have permission to function with bitcoin and the altcoins in any method in anyway.


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