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Seeking Alpha 2021-06-28 15:49:12

Mexican billionaire wants to adopt bitcoin for banking business

peterschreiber.media/iStock via Getty Images Yesterday, Mexican billionaire Salinas Pliego says his banking business may start using bitcoin (BTC-USD), which would make his bank the first ever Mexican bank to accept cryptocurrency, Reuters reports. Salinas owns the Banco Azteca banking business and is the third wealthiest person in Mexico. Last year, he said he had ~10% of his liquid portfolio invested in bitcoin. In a recent tweet he says, "sure, I recommend the use of #Bitcoin, and me and my bank are working to be the first bank in Mexico to accept #Bitcoin." In Monday trading, Bitcoin rises 4.3% to $34.6K. In a larger adoption of the world's largest cryptocurrency by market cap, El Salvador is set to make bitcoin legal tender on Sept. 7. SA contributor Mott Capital Management, though, is wary of bitcoin, saying it has a lot in common with the 2000 technology bubble.

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