Mexico’s Banco Azteca to Start Accepting Bitcoin

Bitcoin adoption is continuing to gain traction among institutional investors, as it continues to demonstrate that it is the greatest method to safeguard wealth for future generations. The third wealthiest man in Mexico, Ricardo Salinas Pliego, has reiterated his confidence in the digital asset, stating that all fiat currencies are fraudulent.

He went on to say that he intends to keep Bitcoin for the next 30 years. Pliego upped the ante by tweeting that he intends to make his bank the first in Mexico to support Bitcoin.

“Definitely, I encourage using Bitcoin, and my bank and I are striving to become Mexico’s foremost bank to take Bitcoin; if require additional details, follow me on Twitter.” Salinas is the founder and CEO of Grupo Salinas, which includes the local bank Banco Azteca, the television and radio network TV Azteca, the consumer electronics shop Grupo Elektra, and the football team Mazatlan F.C. Mexico, Panama, Guatemala, Honduras, El Salvador, and Peru are all served by Banco Azteca. Last year, the bank’s yearly revenue was $2.54 billion. After gaining $2.8 billion this year, Salinas’ fortune now stands at $15.8 billion.

In a recent interview, he stated that in 2020, he will invest 10% of his wealth in Bitcoin. He initially became interested in Bitcoin nine years back when he bought the numero uno crypto for $200. Salinas stated it was the smartest investment he had ever made at the time. He regarded Bitcoin as a superior substitute for fiat currencies, in addition to its financial potential. He stated in an interview that the economic crisis in South America speaks eloquently about the difficulties with fiat currency.

“What is taking place in Venezuela and Argentina, where fiat money is crumbling, has turned into a scandal. It enlightens you on the issue of fiat money.”

In February, he went over and above by including the Bitcoin slogan in his bio, led by Elon Musk, Jack Dorsey, and a slew of other famous people. The appetite for Bitcoin has pushed companies to acquire a license to deliver crypto-related services in recent years. The state of Wyoming granted Kraken permission to function as a crypto bank in 2020.

As a result, they became the first crypto company to be granted such a permit. The Comptroller of the Currency determined the same year to enable fintech businesses to provide loan facilities without the necessity for state banking regulation. Under this Charter, Anchorage became the first crypto firm to obtain the license in January this year.