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Mexico’s Richest Man Favors Bitcoin Over Fiat Currencies

While some conventional investors continue to wait for the Bitcoin bubble to burst, many are switching opinions.

Mexican billionaire Ricardo Salinas, an ardent supporter of bitcoins, once again affirmed his love for crypto assets. Salinas, who owns the maximum share in Mexico’s bank, Banco Azteca, said that his bank would soon become the first to accept cryptocurrencies in all of Latin America.

In a Tweet in response to Michael Saylor, salinas advocated “the use of #Bitcoin.” He then also explained that his Banco Azteca was “working to be the first bank in Mexico to accept #Bitcoin”.

Taking a rather radical stand against the Fiat currencies, Salinas said that he believes in Bitcoin as an asset class and that the conventional currencies are a “fraud” and “stinky.” Ricardo Salinas is the `third-richest person in entire Mexico and one of the richest in the American subcontinent.
With his tweets, Salinas has joined the list of global billionaires who actively endorse cryptocurrencies. The list already features Tesla Ceo Elon Musk and Microstrategy boss Michael Saylor. It is important to note that Salinas’ tweet cones at a time when most fiat currencies in the regions are struggling with high inflation.

A significant percentage of the population in South America is unhappy with the devaluing currency and therefore exploring options with cryptocurrencies. By endorsing cryptocurrencies and bitcoins, the Mexican banking tycoon could strategically be building a foundation to pitch crypto-related services or products.



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