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Mexico’s Third-Richest Man Ricardo Salinas Pliego Supports Bitcoin, Says His Bank Is Working To Embrace It

Mexico's Third-Richest Man Ricardo Salinas Pliego Supports Bitcoin, Says His Bank Is Working To Embrace It

Ricardo Salinas Pliego

Ricardo Salinas Pliego, a Mexican billionaire, stated on Sunday that he supports the usage of bitcoin. He also stated that his bank, Banco Azteca, is striving to become the first North American nation to accept cryptocurrency.

Salinas is the founder of the enormous Banco Azteca banking firm. He is Mexico’s third-richest man by Forbes, with a family fortune estimated at $15.8 billion.

Last year, Salinas stated that he invested about 10% of his liquid portfolio in bitcoin.

Salinas Believes In Crypto

“Sure, I recommend the use of #Bitcoin, and me and my bank are working to be the first bank in Mexico to accept #Bitcoin,” Salinas confirmed in a tweet.

The known bitcoin supporter had posted a video in which Salinas Pliego slammed fiat currencies. He called them “stinky” and adding “fiat is a scam.”

Salinas Pliego, speaking in Spanish, believes that after spending time researching bitcoin, any investor should incorporate it in their portfolios.

Banks Do Not Consider Crypto As Real Money

On Monday, the bank stated that Cryptocurrencies such as bitcoin are not legal money in Mexico. Therefore, it is illegal to utilize in the country’s financial system.

The remarks came after Salinas announced his intention to create Banco Azteca, the first bitcoin bank in the country.

Reuters States

According to Reuters, “The financial authorities reiterate their warnings… on the risks inherent in the use of so-called ‘virtual assets’ as a means of exchange, as a store of value or as another form of investment.”

“The country’s financial institutions are not authorized to carry out and offer to the public operations with virtual assets, such as Bitcoin, Ether, XRP.”

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