One of the largest banks in Mexico may soon start accepting Bitcoin

The third man on the list of the richest billionaires in Mexico, Ricardo Salinas Pliego, said that the bank he founded, Banco Azteca, aims to become the first banking institution in the country to accept bitcoins directly.

At the same time, Pliego runs Grupo Salinas, a sprawling conglomerate that controls the bank, which he founded 19 years ago. If he manages to bring the solution to life, Banco Azteca will join the echelon of the first major financial institutions to openly work with crypt.

Banco Azteca is one of the largest banks in the country, serving over 16 million savings accounts and 19 million user credit accounts. It is noteworthy that until 2019, bank branches also operated in El Salvador, the country that was the first in the world to make Bitcoin a legal means of payment.

At the same time, Pliego himself has been supporting the cryptocurrency for a relatively long time. Specifically, in December 2020, he announced that he holds 10 percent of his investment portfolio in Bitcoin. In addition, Ricardo does not plan to sell coins, expects to keep them for five to ten years and already recognizes BTC as his best investment.

In February 2021, the entrepreneur placed the Bitcoin hashtag in the description of his own Twitter profile. Thus, he made it clear that he is on the side of decentralized digital assets based on the blockchain.

His profile now exclusively mentions Bitcoin. He also added laser eyes to his avatar. Recall that this is done by fans of the cryptocurrency, who believe in its growth to the level of 100 thousand dollars.

pliego twitter bitcoin

Pliego’s Twitter today

The billionaire plans to make cryptocurrencies more popular. And for this, he is also ready to use his own bank.

Which banks accept cryptocurrencies

The day before, Pliego tweeted a response to the head of MicroStrategy, Michael Saylor, who noted the billionaire’s desire to invest in the crypto market. In particular, Sailor was referring to a fragment of an interview with Ricardo, in which he called Bitcoin «an asset necessary for the portfolio of every investor. » By the way, in the same interview, the billionaire called Dogecoin «shitcoin» and said that altcoins are not worth attention.

We disagree with this opinion. Especially considering the fact that most decent altcoins are significantly ahead of Bitcoin from a technological point of view. Well, the same ETH after the July update may become a deflationary asset.

Here is an excerpt from a conversation with Pliego. We recommend that you look in order to better understand what is happening in the world of finance.

And here is the answer to Pliego Sailor with a quote, in which he shares important news. The cue is from Decrypt.

Of course I recommend using Bitcoin, my bank is also working to become the first bank in Mexico to accept cryptocurrency. If you need more details or information, follow me on Twitter.

Ricardo Salinas Pliego billionaire Mexico

Ricardo Salinas Pliego

Unfortunately, the billionaire did not disclose a timeline or any other details regarding the adoption of Bitcoin at Banco Azteca. However, given his deep interest in crypto, Pliego can please us with positive news in the next few months. In the meantime, he does not get tired of tweeting about BTC as the «new gold». Here is one such message posted on his account on June 27th.

Quite right, Bitcoin is the new gold, but it is much more portable, transporting BTC is much easier than having gold bars in your pocket. And I know that gold lovers will criticize me for these words.

Indeed, transfers of bitcoins – as well as other cryptocurrencies – do not cause any problems. Most importantly, sending $ 10,000 in BTC can cost as much as sending a million dollars.

With the adoption of Bitcoin by the largest bank in Mexico, a debate in the government regarding the legal status of cryptocurrency in the country may well begin. It is likely that the Salvadoran scenario will repeat itself, and the government will accept BTC as a legal exchange medium, taking into account all the fundamental advantages of a digital asset over the US dollar.

We believe that this news clearly demonstrates the development of the cryptocurrency industry in recent years. Today, Bitcoin is recognized as the official currency of an entire state, and banks are preparing to directly interact with cryptocurrencies. Obviously, the situation in the niche in a few years will be even more different from the current one.

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