Thursday, May 23, 2024

Mexican billionaire advises investors to buy Bitcoin and avoid selling it

Ricardo Salinas Pliego, a crypto enthusiast, and Mexican billionaire have advised investors to buy bitcoin and hold onto it. Salinas urged investors to not sell their bitcoin. He said they’ll be thanking him later by following his suggestion.

Salinas, the third-richest person in Mexico, prefers BTC over fiat currency. He favors cryptocurrency because of its transparency, incentives to save, and greater macroeconomic stability that comes with it. Time and again, the billionaire has called on fellow investors to buy the world’s most popular cryptocurrency. He also attributed his inclination towards digital assets to banks overprinting money.

The CEO of Grupo Elektra highlighted that governments don’t want to promote the use of bitcoin as a store of value. Salinas said they would make it easy if they are allowed to. He described central banks as the “sacred temple of bureaucrats”. And traditional money is the religion of high priests (governments). They are able to make a “good life” out of fiat money and don’t want to let it go whatsoever.

Salinas recently announced that the Elecktra group will be integrating The Lightning Network into its Bitcoin payment service. The company’s latest promotion says it all – use BTC and get an additional 20% discount. This is an effort to strengthen the adoption of the popular crypto in Mexico. The businessman believes more retail and institutional investors will take up cryptocurrencies.

Furthermore, Salinas has recommended the use of bitcoin in Mexico. Banco Azteca, one of his companies, is working on a financial scheme to accept cryptocurrencies as a payment method.

Cryptured Team
Cryptured Team
The writers team at is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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