In the tweet, Salinas wrote that he recommended “the use of #Bitcoin” and that he and his bank were “working to become the first bank in Mexico to accept #Bitcoin”. Bitcoin price surged in Indian Rupee over the weekend following Salinas’ tweets in support of the cryptocurrency. Although it is still far from its peak point in April this year.
In a tweet in Spanish, Salinas said bitcoin is a good way to diversify an investment portfolio and added that at Banco Azteca they were working to bring cryptocurrencies to customers.
#Bitcoin It is a good way to diversify your investment portfolio and I think that any investor should start studying about cryptocurrencies and their future.
– Ricardo Salinas Pliego (@RicardoBSalinas) June 27, 2021
In a video, Salinas said that he had spent a lot of time studying bitcoin and thought it was an asset that should be part of every investor’s portfolio. Mexico’s third richest man said the limited supply of bitcoin at 21 million was a key. He said that if he had to choose to take assets 30 years in the future, he would take bitcoin.
Here is a video of Mexico’s third wealthiest man explaining why he believes all fiat currencies are a fraud and he wants to hold bitcoin over the next 30 years.
– Pump ???? (@APompliano) June 27, 2021
Support for Bitcoin comes amid a sharp drop in its value. The decline is partly attributed to Chinese action and partly to the Tesla CEO’s tweet in which he accused the use of fossil fuels in cryptocurrency mining.
Bitcoin hit an all-time high of around $65,000 (approximately Rs 47.3 lakh) but lost all gains in two recent market crashes in May and June.
According to CoinDesk, at around 5 pm (IST) on Tuesday, it was trading at $ 35,600 (about Rs 26.43 lakh).<!–
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