Ricardo Salinas Pliego, Mexico's third-richest person, posted a video on Christmas Eve urging Bitcoin enthusiasts to ditch fiat money and buy BTC instead.

Since its launch in 2009, Bitcoin has gained numerous supporters, with celebrities and billionaires urging people to buy the cryptocurrency. The popularity of Bitcoin has helped increase the adoption of broader cryptocurrencies.

As part of his Christmas and New Year message to his 957,200 followers on Twitter, Ricardo Salinas Pliego offers three pieces of advice:

“Steer clear of fiat money. Whether it’s the Dollar, the Euro, or the Yen –it’s all the same. It’s fake money made of paper lies. Central banks are producing more than ever.”

"Invest in Bitcoin!" he says as he points to the camera.

Salinas describes himself as a Mexican businessman and Bitcoin holder and says he has been a Bitcoin evangelist since 2013. His message doesn't come as a surprise, as he is a long-term investor in Bitcoin.

Salinas said that he bought Bitcoin in 2013 at $500, and it was the best investment he has ever made. He plans to make Banco Azteca the first lender in Mexico to accept Bitcoin.

Mexican authorities have responded to his ambitious plans by stating that cryptocurrencies like Bitcoin are not legal tender in the country and cannot be used in its financial system.

With a total market cap of $2.4 billion, the broader cryptocurrency market has performed well in recent days. Bitcoin's value has risen by more than 2% over the past 24 hours after trading below $50k in recent weeks. It is currently trading above $51k after falling below $50k in recent weeks. BTC is likely to break over $52k in the coming days if the current market momentum continues.

 

Pavan A

CBW - External Analyst

INDIA