Connect with us

Hi, what are you looking for?

Cryptocurrency

Mexican billionaire encourages Twitter followers to invest in Bitcoin

Mexican billionaire Ricardo Salinas Pliego recently encouraged followers in a holiday Twitter greeting to avoid fiat and invest in bitcoin. 

“Stay away from fiat money,” Salinas said in a Spanish-language video posted to Twitter on Dec. 24. “The dollar, the euro, the yen, the peso — all are the same story. It’s fake money [made] of paper lies, and the central banks are producing more money than ever. Invest in Bitcoin.” 

This isn’t the first time that Salinas, Mexico’s third-richest billionaire according to Forbes, has promoted the use of bitcoin. Salinas tweeted on Dec. 16 that retailer Grupo Elektra, one of the companies belonging to his conglomerate Grupo Salinas, would accept bitcoin as payment. 

Salinas also tweeted in June that he recommended the use of Bitcoin and was working to make his bank, Banco Azteca, the first in Mexico to accept it. But that goal remains to be seen. Mexico’s central bank promptly issued a statement the next day saying that virtual assets like bitcoin are not legal tender and that financial institutions were not authorized to offer crypto transactions. 

theblockcrypto

Featured

Bitcoin Mining

Despite a $72 million rescue offer from creditors, concerns have been raised about the general viability of the Bitcoin trading community amid a protracted...

Altcoin

Ripple is attempting an upside break above the $0.365 resistance zone against the US Dollar. XRP price could fail to gain pace if it...

Bitcoin

Bitcoin price is facing resistance near $17,000. BTC could start another decline unless there is a strong move above the $17,000 resistance zone. Bitcoin...

Ethereum

Ethereum started a fresh decline from the $1,320 resistance against the US Dollar. ETH is struggling and remains at a risk of a move...