Home News Billionaire vows to spearhead Mexico’s first Bitcoin-friendly bank

Billionaire vows to spearhead Mexico’s first Bitcoin-friendly bank


One of the richest men in Mexico and founder of the Grupo Salinas group of companies, Ricardo Salinas Pliego, now represents the Bitcoin camp.

Last week, the financier announced that his bank would be the first in Mexico to handle cryptocurrency. Banco Azteca will handle Bitcoin transactions, Pliego said.

MicroStrategy CEO Michael Saylor and Morgan Creek co-founder Anthony Pompliano backed the banker’s initiative. Relevant posts with a fragment of Pliego’s speech were posted by both Bitcoin supporters.

Pompliano noted that the Mexican billionaire was one of the first in the business elite to begin to realize the gigantic potential of BTC. The world will soon face hyperinflation, in this situation the decision to support Bitcoin transactions was correct.

Moreover, there is an increase in interest in alternative instruments, primarily BTC.

Fiat money depreciates while interest in Bitcoin is growing

In an interview, Ricardo Salinas Pliego called fiat money a scam. Stressing that printing money and inflation devalues ​​purchasing power for all consumers.

Also he called the dollar a joke. Explaining that fiat currency fraud is inherent in the fiat system, and we can see it today in the USA.

Bitcoin, on the other hand, has a fixed limit of 21 million and this is a key point. He said: “I’ve spent a lot of time researching Bictoin. And I think it’s an asset that should be part of every investor’s portfolio”.

It is an asset of value, international value, which is traded with tremendous liquidity globally. And this is reason enough to be part of every portfolio.

The final Bitcoin supply, 21 million, is the key piece. That is why the billionaire does not trust Ethereum, which has no issuance limit, believing that they are also trying to deceive people, like US politicians.

Salinas is worth more than $ 13 billion, and in November last year he announced that he had invested 10% of his “liquid portfolio” in Bitcoin.

No one knows how much his liquid portfolio is worth, as much of his fortune is in family stocks, but this is not only one of the most significant endorsements of Bitcoin by billionaires, but also the first claim that fiat money is a scam.

When asked which of the assets the billionaire would choose: gold, silver, bolivars, Argentine pesos, Mexican pesos, Salinas laughed and explained:

“No, no, no, not a single peso, no bills. I would take Bitcoin”.

We will remind, earlier the founder of Galaxy Digital Mike Novogratz said that each investor should invest 2-3% of the portfolio in Bitcoin. JPMorgan analysts named a smaller share – 1%.

Who is Salinas?

Salinas has a fortune of $ 12.9 billion, according to Forbes, making him the third richest person in Mexico and the 166th richest person in the world. Salinas made his fortune as the founder and chairman of the retail and media conglomerate Grupo Salinas. Much of his fortune comes from his stake in Grupo Elektra, a home appliance retail store that Banco Azteca uses to sell loans to lower-middle-class Mexicans.

Previous articleUK FCA orders Binance to halt ‘regulated activity’ in the country
Next articleBitcoin short-term setup is challenging, JPMorgan strategists warn