19h05 ▪
4
min read ▪ by
Pro-Bitcoin Latin American leaders are not counted by the dozens. Yet, interest in the flagship crypto is starting to assert itself in certain influential circles. El Salvador blazed the trail, and heavyweight figures, such as Mexican billionaire Ricardo Salinas, are taking over. His journey, from skepticism to unbridled enthusiasm for BTC, speaks volumes about the evolution of the crypto market and its prospects in Mexico.
Ricardo Salinas: a bold bet on Bitcoin
The Bitcoin news: the founder of Grupo Salinas does not do things by half. After buying his first bitcoins at $200, he gradually increased his exposure to the flagship crypto. Today, 70% of his investment portfolio is in BTC, compared to 10% in 2020.
He claims to be “all in” and retains only 30% of his assets in gold and gold mines.
Why such enthusiasm? Salinas views Bitcoin as the most resilient asset in the world, even surpassing the precious yellow metal. He stresses the idea that BTC, with its limited supply, does not suffer from inflation, unlike gold which increases by 3% per year through mining extraction.
His recommendation to investors is clear:
“Buy everything you can and above all, never sell“.
Moreover, the Mexican billionaire is not new to making headlines in the BTC universe. Since 2021, he has been trying to make Banco Azteca the first Mexican bank to integrate Bitcoin. However, regulators are watching, and his project is facing hurdles.
His recent delisting plan for Grupo Elektra suggests he is preparing a poker move to bypass these obstacles.
The adoption of BTC in Mexico: a revolution in progress?
While the Mexican government remains reluctant, Bitcoin is gradually asserting itself in the daily lives of many inhabitants.
Tristan, a Canadian digital nomad living in Mexico, perfectly illustrates this trend.
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- He pays for his plane tickets and furniture in BTC;
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- He converts his bitcoins into pesos via ATM codes;
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- He attends bitcoin meetups in Querétaro and Mexico;
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- He uses Azteco vouchers to manage his spending.
Like him, more and more traders and entrepreneurs are betting on crypto to avoid the complexity of the Mexican banking system. With the country being largely cash-based, bitcoin offers a practical and quick alternative for everyday transactions.
But the question remains: how far will this adoption go? Will regulatory hurdles slow down this momentum, or will Mexico end up following in the footsteps of El Salvador?
In political and financial circles, bitcoin is gaining credibility. Discussions are underway to see if Mexico could follow in the footsteps of El Salvador. The debate is on, and with figures like Ricardo Salinas, the idea of a broader adoption of BTC could gain traction.
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La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
