Mexican Billionaire Planning to Use Bitcoin, My Bank 'Works' to Receive BTC

Ricardo Salinas Pliego from Mexico declared on Sunday (27 June), Banco Azteca is planning to embrace Bitcoin, the bank it created in October 2002.

The founder and chairman of the Mexican Congregation Grupo Salinas is Ricardo Benjamín Salinas Pliego. He's the third richest individual in Mexico today.


On 17 November 2020 Salinas promoted Saifedean Ammous' book "The Bitcoin Standard" to his more than 800K Twitter followers and claimed that it was the most essential and the finest book for Bitcoin comprehension. More interestingly, it indicated that Bitcoin is investing 10 per cent of its liquid assets.


In December 2020, he talked about Bitcoin during an interview with Giovanni Pigni from Cointelegraph. In the interview, Salinas told him how he heard of Bitcoin for the first time:

"I have been invited to a New York City conference... And several sessions took place and this Grayscale guy was [at] one of the sessions. And he gave us the entire lecture and the way it will take over from Bitcoin.... It caught my attention immediately. I replied 'OK, let's test it out and see what's going on. I placed a few in a quantity. It was $200 a bitcoin trading. It had been 2013, but then...

"They simplified what I loved about Greyscale — basically you placed your money in the trust, then that trust would make the investment, take care of the entire, they would take responsibility for the custody, they provided a monthly statement and it was an excellent arrangement.

While Bitcoin first caught the eye of Salinas as a "payment channel," he subsequently discovered that "it is storing value which makes it truly valuable."

Later in same interview, Salinas claimed in January 2017 (when BTC traded over 17,000 dollars) he liquidated all of his BTC holdings:

"I threw a great celebration and [was] really pleased about my best ever investment, but you know that we're constantly back to the crime site, right? I thought 'okay, now, it's better' and bought anything at that time, when it fell down to $10,000. And then the amount dropped down to 6,000 $, purchased some more, where's our average of approximately 9,000 dollars today, and I'm not finished, and that's where I am. I am not selling it. I am not selling it. For another five or 10 years, I suppose I will sit around."


Mexico City-based Banco Azteca is a bank operating in Mexico, Panama, Guatemala, Honduras, Peru, and El Salvador according to Grupo Salinas. Grupo Elektr, a subsidiary of the Salinas Group, is its parent company. It is "one of Mexico's major banks with over 16 million savings accounts and over 18 million loan accounts."

Earlier today, Salinas reveals that its bank aims to become the first bank to agree to Mexico's Bitcoin in the context of a tweet given by Microstrategy CEO Michael Saylor;

He also said that Bitcoin is "a fantastic method to diversify your investment portfolio" and that, in order to fight inflation, "every investor should begin to research about cryptocurrencies and its future."

 

Tag :

MEXICO CITY (Reuters) - Mexican billionaire Ricardo Salinas Pliego said on Sunday his banking business may begin using bitcoin, becoming the country's first bank to start accepting the cryptocurrency.

Mexican Billionaire: I Recommend Use of Bitcoin, My Bank 'Working' to Accept BTC ... the bank which he founded in October 2002, plans to accept Bitcoin. ... Later in the interview, Salinas said that he sold all of his BTC ..

"My bank [and I] are working to be the first bank in Mexico to accept ... led the company through its purchases of more than 100,000 bitcoins. 

 

Share:

No comments:

Post a Comment

Note: only a member of this blog may post a comment.

Hot Topic

CEO of Messari: "Bear Markets Are Good for Cleaning House."

 Although most of the crypto industry has had a difficult winter, Messari CEO Ryan Selkis believes that a little austerity will be good for ...

counter, at the bottom of the page, in a table, div or under a menu.