Mexican Billionaire Recommends People the Use Of BTC Says His Bank Accepts Bitcoin Now

Ricardo Benjamin Salinas Pliego, a Mexican billionaire, stated on Sunday that his bank Banco Azteca (founded in October 2002) intends to accept Bitcoin (BTC). He is the chairman as well as the founder of Grupo Salinas (a Mexican conglomerate). He is considered to be the third of the richest persons in Mexico currently.

He recommended “The Bitcoin Standard” (the book by Saifedean Ammous) on Twitter to his more than 800K followers on November 17th, 2020. He mentioned that the book was the ultimate in comprehending Bitcoin (BTC). He, most interestingly, disclosed that from his liquid assets, he had invested 10% in BTC. 

While in an interview with Giovanni Pigni of Cointelegraph, during December, he discussed Bitcoin. The interview was initiated with a story told by Salinas about how he knew about BTC for the first time. He expressed that he was invited to a New York City conference where there were several sessions at one of which a person from Grayscale appeared and talked completely about BTC and its prominence in the future. Salinas revealed that his attention was at once grasped by the Grayscale guy. Salinas considered trying once to see what would happen by putting a small amount in Bitcoin investment. He added that 2013 was the year when he traded $200 in exchange for a Bitcoin.

He propounded that he liked the simplification given by the Grayscale person. The person said that the investor deposits his money into the trust, and then the trust invests that amount keeping it with great care and security. A monthly statement is also provided by the trust. That’s how the BTC is traded in easy words. Salinas further indicated that he utilized BTC only as a payment vehicle in the beginning, but subsequently, he came to know that its significance is in its store value.

Afterward, Salinas described that the entire holdings of his Bitcoin (BTC) were sold in January 2017 when he had a good party purchasing them while the trading of BTC was done about $17,000. He informed that he purchased Bitcoin again just as it got lower to $10,000 and further to $6,000 as it was a suitable time to store it, according to him. He elaborated that at the time of the interview, the BTC was trading at $9,000, and he did not have any intention to give up until 5 to 10 years as it is not the end.

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