Mexican billionaire and his Bank Azteca will adopt Bitcoin

Mexican Billionaire and Banco Aztega into bitcoin

Another country from the Americas area is showing interest in Bitcoin. This time the eyes of the world are on Mexico and the owner of one of the largest banks in the region.

Acceptance of Bitcoin at the Bank

Ricardo Salinas Pliego is the owner of Bank Azteca, which is one of the largest banks in Mexico. He declared on Twitter, in a conversation with Michael Saylor, that he is working on making Bitcoin acceptance available to his customers. Initially, it was unclear how Bitcoin would work in the banking space. However, information quickly surfaced suggesting that it was mainly about lending services.

Ricardo Salinas Pliego himself is not an anonymous figure and his positive attitude towards Bitcoin has been known for a long time. As he declared back in 2020, he allocated 10% of his investment portfolio to the king of cryptocurrencies. Considering that he is the third richest Mexican and his fortune is estimated at around $15.8 billion, we are talking about a really serious amount. Although Pliego owns a bank, he is also known for his recent statements indicating that fiat currencies are a scam. He also considers Bitcoin to be gold, only in a better, digital version. 

The position of the Central Bank of Mexico

In response to Ricardo Salinas Pliego’s statement, the Central Bank of Mexico expressed its concerns about Bitcoin on June 28. It indicated that it is not legal tender in the country and cannot be used in the financial system. The statement sounds quite firm and decisive. It draws attention to the risks that are associated with the use of digital assets.

This attitude of the Central Bank undoubtedly creates a lot of trouble on the way to the Pliego plan. However, the owner of Azteca Bank is a significant figure in his country and it can be assumed that he also has a strong lobby behind him. There are many indications that talks will emerge between him and government representatives to implement the original plans, in one form or another. 

Potential consequences of Bitcoin recognition at the Bank of Azteca

It is interesting to note that Bank Azteca’s activities are not just confined within the borders of Mexico. It is also present in Panama, Honduras, Guatemala and El Salvador. As we know, El Salvador has already managed to pass a law making Bitcoin legal tender in the country. This entails the automatic integration of the Bank of Azteca into the cryptocurrency world, if only by virtue of El Salvador’s current law. This is an advantage that its competitors are sure to take notice of. It is also worth noting that Mexico itself has a population of almost 128 million people. Facilitated access to cryptocurrencies for such a wide population would be a milestone for mass adoption of BTC. 

Disclaimer: Blockbulletin does not take accountability of investments based on the information of the website. We highly advice readers to make extensive research prior to any invest

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