01242022Mon
Last updateFri, 21 Jan 2022 10am

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Mexico’s interest in digital currencies perks up

Ricardo Salinas, one of Mexico’s wealthiest businessmen, reckons individuals should refocus their investments on virtual markets based on cryptocurrencies such as Bitcoin.  

Salinas recently announced that his Elektra chain of retail stores will be the first in Mexico to accept Bitcoin, even though the nation’s central bank has repeatedly said that cryptocurrencies are not considered legal tender and cannot be used to buy or sell goods.  However, reports this week suggested that the Bank of Mexico intends to launch a Central Bank Digital Currency within the next two years.

Salinas has said his Banco Azteca is “working to be the first bank in Mexico to accept Bitcoin.”  He said that 10 percent of his financial empire’s liquid portfolio is currently invested in cryptocurrencies.

The Mexican mogul’s fortune, which includes stakes in retail, banking and streaming businesses, has risen by US$2.8 billion this year to US$15.8 billion, according to the Bloomberg Billionaires Index.

Back in June, Salinas described Bitcoin as “digital gold.”

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