Mexican Billionaire Advises Investors to Buy Bitcoin

Ricardo Salinas Pliego is the 3rd richest person in Mexico. Speaking on the matter of cryptocurrencies and Bitcoin, he claimed that people should start accumulating the firstborn cryptocurrency ASAP. He also used the term digital gold referring to the flagship cryptocurrency while talking about the subject.

Salinas has been an outspoken Bitcoin proponent for years and he also put down the USA for its irresponsible monetary policies. During the last 24 hours, the price of Bitcoin has crashed in the aftermath of the FUD caused by the discovery of a new COVID-19 variant. However, most of the Bitcoin investors seem to keep the bullish sentiment.

Salinas Criticizes Monetary Policies of Biden Administration

In a new tweet, Salinas claimed that the government of the United States under Biden is operating very irresponsibly. He further explained that the monetary policies of the Biden administration have started a trickle-down inflation effect in the rest of the world. He even went on to label the current US administration working after the fashion of a third-world country.

According to the billionaire, the best bet for the people of the country is to understand that the tough times are about to strike them. Therefore, Salinas claimed that the people who are concerned about the ragging storm of inflation should start accumulating Bitcoin as soon as possible. A few years ago, Salinas made it public that he invested in Bitcoin as soon as 2016 when it was trading for $800 per unit.

Banco Azteca is a bank owned by the Grupo Salinas. During the current year, the bank officials decided that they are going to offer Bitcoin and other cryptocurrencies related services to their clients in the region. However, the government institutions stepped in and put a halt to the decision.

According to media reports, the Central Bank of Mexico, National Banking and Securities Commission, and the Ministry of Finance interfered and claimed that the cryptocurrencies cannot operate as a substitute of the legal tender by the decree of Mexican law. Thus far, the federal monetary institutions have stopped the banks under their jurisdiction from dealing with stablecoins, tokens, and any other type of digital assets.

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