• In a newly featured video, Mexican billionaire Ricardo Salinas endorsed the use of Bitcoin (BTC) in his banking business
• The video was posted as a tweet by Anthony Pompliano, an avid BTC investor 
• Salinas also elaborated on why he believes “fiat is a fraud”

Billionaire’s Bank To Introduce BTC In Mexico

Ricardo Salinas Pliego, well known business tycoon and the world’s 166th richest person, openly welcomed the idea of introducing Bitcoin in the Mexican banking industry. Banco Azteca, the bank instituted under Salinas’ Grupo Elektra, is set to become the pioneer financial body to introduce the use of Bitcoin in the banking sector, paving the way for other Mexican banks to begin using cryptocurrency. 

A tweet was made by Anthony Pompliano, noted investor in cryptocurrency, which featured the billionaire stating that he is working actively with his bank to become the first Bitcoin accepting institution in Mexico.

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.

Incredible to see this from @RicardoBSalinas given his historic wealth and success. pic.twitter.com/FDVPxgWfFj

— Pomp 🌪 (@APompliano) June 27, 2021

Pompliano described the statement as “incredible”, highlighting that such an endorsement is noteworthy coming from Salinas due to his “historic wealth and success”. 

Salinas Thinks Fiat Is A Fraud

The billionaire went on to highlight the hyper-inflation witnessed by him first-hand. This formed his rationale behind investing in Bitcoin, and he has since become an avid supporter of the world’s biggest cryptocurrency. Salinas also stated that he believes fiat to be fraud, suggesting that every investor should own Bitcoin instead of the government-backed money printed on paper. 

The support garnered by Bitcoin is noteworthy as many investors are encouraged to purchase the cryptocurrency. Despite the volatility headed by BTC last week, the coin has witnessed a possible uptake now, with it’s present value at $34K. Salinas has also referred to the leading digital currency as “the new gold”, which has indefinitely contributed towards the growth of Bitcoin. 

About Author

Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO’s in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on Twitter at @sharmasunil8114 and reach out to him at sunil (at) coingape.com

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