Mexican billionaire Ricardo Salinas Pliego backed the use of Bitcoin and said his bank is on track to accept the cryptocurrency.
“Of course, I recommend the use of Bitcoin, and my bank and I 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,” microstrategy billionaire founder Michael Saylor said on the social network.
Saylor cited a video in which Mexico’s third wealthiest man and owner of Banco Azteca said cryptocurrency should be in the wallet of all investors and attacked Fiat coins (fiat coins and notes that are declared legal by a government, such as the peso or the dollar) calling them “fraud” and “stinky.”
The Bitcoin promoter said last year that he has 10 percent of his liquid wallet invested in the cryptocurrency.
The Mexican tycoon’s fortune, which includes stakes in retail, banking and transmission businesses, has increased $2,800 million this year to $15,800 million dollars, according to Bloomberg’s Billionaires Index.
Bitcoin rose as much as 7.3 percent on Sunday to $33,578 in New York transactions and has fallen from a high of $63,410 in April.
Much of the decline is attributed to stocks outside of China, where a crackdown on such assets begins to reshape the industry by seeking a ban on cryptocurrency services.