Mexican Billionaire Says His Bank Is ‘Working’ to Accept Bitcoin

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Mexican billionaire Ricardo Salinas Pliego endorsed the use of Bitcoin and said his bank is on the way to accepting the cryptocurrency.

“Sure, I recommend the use of Bitcoin, and me and my bank are working to be the first bank in Mexico to accept Bitcoin, if you need more details or information follow me on my Twitter account,” Mexico’s third-richest man and owner of Banco Azteca said in a tweet response to Michael Saylor, the billionaire founder of Microstrategy Inc.

Saylor quoted a video in which Salinas said Bitcoin should be in every investor’s portfolio, and bashed Fiat currencies, calling them a “fraud” and “stinky.”

Mexican Billionaire Says His Bank Is ‘Working’ to Accept Bitcoin

Bitcoin activist Salinas said last year that he holds 10% of his liquid portfolio invested in the cryptocurrency. The Mexican tycoon’s fortune, who includes stakes in retail, banking and broadcast businesses, has risen $2.8 billion this year to $15.8 billion, according to the Bloomberg Billionaires Index.

Bitcoin rose as much as 7.3% Sunday to $33,578 in New York trading and has fallen from a peak of $63,410 in April. Much of its decline is being blamed on actions out of China, where a crypto crackdown is starting to reshape the industry by seeking a ban on cryptocurrency services.

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