Key takeaways
- Mexico Billionaire Ricardo Salina wants his bank to adopt Bitcoin payment services
- Salinas is a known advocate of Bitcoin and holds 10% of his money in BTC
- Several legal and financial regulations will determine if Mexico banks can adopt BTC
Salinas tweet was in response to Michael Saylor, the CEO of Cloud intelligence platform Microstrategy, who tweeted a video of the Mexican billionaire calling fiat fraud and promoting Bitcoin. Salinas stated in the video the qualities of Bitcoin. it “has value and an international market where it is traded with enormous liquidity worldwide.”
Salinas is a known lover of Bitcoin and has long advocated the adoption of the leading cryptocurrency. He joined Elon Musk and Anthony Scaramucci at the start of the year when he changed his Twitter bio to Bitcoin.
Salinas also stated in November last year that he held 10% of his liquid portfolio in Bitcoin. However, the billionaire is not fond of Dogecoin and other altcoins, which he terms as ‘’shitcoins.’’
Banco Azteco is one of the largest in Mexico, with over 15 million users within the country. The adoption of Bitcoin by the Bank would represent a major milestone making it the first to do so in the Latin American country. Mexico is regarded as the third-largest economy in North America behind the US and Canada, with a growing young population taken to cryptocurrencies and Bitcoin.
Despite the enthusiasm towards cryptocurrency, it could prove difficult for Banco Azteco to offer Bitcoin services. Mexico is known for its tight financial laws, and the bank will have to undergo numerous legal and financial regulations to get the license to offer cryptocurrency services.
Nevertheless, the tweet from Salinas has attracted excitement within the crypto community, which has reacted positively to the news.
Do you think that Bitcoin adoption by Banks in Mexico would affect the price of BTC?
