Billionaire businessman Ricardo Salinas Pliego, who heads one of Mexico’s largest conglomerates, launched a series of tweets in support of the world’s largest cryptocurrency early Sunday and said he is working to make his Banco Azteca the country’s first bank to accept bitcoin.
Salinas’ post was in reaction to billionaire Michael Saylor, the CEO of MicroStrategy, Saylor was responding to a video in which the Mexican entrepreneur labeled government-backed paper money, or fiat, a “fraud” and urged that every investor buy bitcoin instead.
— Ricardo Salinas Pliego (@RicardoBSalinas) June 27, 2021
Salina wants to make Banco Azteca the country’s first bank to accept Bitcoin maybe because he is particularly concerned about the inflationary design of various currencies. Latin American governments have abused their ability to create money artificially, reducing people’s purchasing power in the long run and as Bitcoin is a worldwide and finite asset, it is immune to manipulation by any government, developer group, or centralized power entity.
Ricardo Salinas Pliego, a Mexican billionaire with a net worth of $13.2 billion and 10% of his liquid assets in bitcoin, called bitcoin “the new gold” and praised its mobility.
Salinas even stormed on one user, who was promoting cryptocurrency dogecoin while denouncing the billionaire’s wealth saying “Another billionaire/millionaire telling me about the power they hold. No thanks, I’ll stick to #doge because I’m not a slave.” To this Salinas replied,
However, Doge is not the only cryptocurrency which Salinas criticized, When he was asked if Ethereum and other cryptocurrencies could outperform BTC he stated that Ethereum weakness lies in its inflationary nature and he won’t believe in them as long as there isn’t a fixed quantity of issuance.
Recently during an interview with Bitso’s former vice president of payments, José Rodrguez, Salinas persuaded Rodrguez that Bitcoin is a solid investment on par with gold. He stated that for people who are familiar with its qualities, the dispute over its nature is unimportant.
Ricardo Salinas is a vocal proponent of Bitcoin. He was one of the first well-known Latin American businesses to talk about cryptocurrencies and promote them on social media, even incorporating the bitcoin hashtag into his Twitter account.
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