HomeBitcoin'Absolutely right' to think of Bitcoin as the new gold — Mexico's...

‘Absolutely right’ to think of Bitcoin as the new gold — Mexico’s 3rd richest man



Bitcoin (BTC) is definitively the “new gold” for the third richest man in Mexico, Ricardo Salinas Pliego.

In a tweet on June 27, Ricardo Salinas Pliego confirmed claims that he recommends Bitcoin as an investment rather than fiat currencies or gold. 

Pliego reiterates Bitcoin benefits

Pliego, already well known as a Bitcoin proponent, has stuck by his conviction, furthering South America’s newfound penchant for the largest cryptocurrency.

“That’s totally right, Bitcoin is the new gold, but too much more portable, transport Bitcoin is so much easier than having your in pockets gold bars … and i know that I’m going to be attacked by gold lovers,” he responded to a tweet by MicroStrategy CEO, Michael Saylor.

Saylor had linked to a previous video interview with Pliego in which he argued that Bitcoin easily beats the U.S. dollar when it comes to wealth preservation.

Pliego has professed his admiration for Bitcoin on multiple occasions and various platforms, including in a dedicated interview with Cointelegraph at the start of the year.

When asked by a Twitter user how Mexico could follow El Salvador in making it legal tender, Pliego nonetheless drew a blank.

“No idea,” he replied.

As Cointelegraph reported, El Salvador’s new era of legal tender BTC comes into force in September, while Paraguay is also making noises about increased use.

XAU/BTC 1-day candle chart. Source: TradingViewSchiff: No one will buy the $30,000 dip

Meanwhile, the debate regarding Bitcoin versus gold remains alive and kicking.

Related: Bitcoin in uptrend but BTC may never beat gold’s $10T market cap — ex-NYSE head

Peter Schiff, arguably the most vocal gold bug on Twitter, continues to denounce Bitcoin as vastly inferior to the precious metal. 

“Most of the Bitcoin buyers who bought the last dip below $30K will not buy the next,” he claimed in one of two tweets on Friday.

“The main buyers will be those who took profits on the bounce. Therefore the next dip will not enjoy nearly as much support. New buyers will likely show up at $20K, but fewer than did at $30K.”

A dip to $20,000 or even lower has been acknowledged as a possibility by analysts themselves. This weekend, however, BTC/USD preserved $30,000 support after a fresh retest.


Source link


Cardano faces $1.60 resistance after ADA price hits 2-month highs

Cardano's ADA token came close to its highest in two months on Aug. 10 as daily gains neared 6%.Data from Cointelegraph Markets Pro and...

Teller Finance deploys mainnet on Polygon, migrates 2,200 NFTs

Teller Finance, a non-collateral lending protocol for the DeFi market, has officially deployed its mainnet on Polygon, marking a significant milestone in its quest...
[td_block_social_counter style="style8 td-social-boxed td-social-font-icons" facebook="tagdiv" twitter="tagdivofficial" youtube="tagdiv" custom_title="Follow us" block_template_id="td_block_template_11" border_color="#fbb03b" f_header_font_size="eyJhbGwiOiIyMCIsInBvcnRyYWl0IjoiMTgifQ==" f_header_font_weight="600" f_header_font_family="702" f_header_font_transform="uppercase" tdc_css="eyJwb3J0cmFpdCI6eyJkaXNwbGF5IjoiIn0sInBvcnRyYWl0X21heF93aWR0aCI6MTAxOCwicG9ydHJhaXRfbWluX3dpZHRoIjo3NjgsInBob25lIjp7Im1hcmdpbi1ib3R0b20iOiI0MCIsImRpc3BsYXkiOiIifSwicGhvbmVfbWF4X3dpZHRoIjo3NjcsImFsbCI6eyJtYXJnaW4tYm90dG9tIjoiMzAiLCJkaXNwbGF5IjoiIn19"]

Most Popular