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Making Bitcoin legal tender is Mexico will be ‘an uphill struggle,’ states Ricardo Salinas


During the Bitcoin 2022 Conference in Miami, Florida, Cointelegraph overtook Ricardo Salinas, the creator and chairman at Grupo Salinas, in a special sit-down interview. As an early Bitcoin (BTC) adopter, considering that its $200 days, Salinas has actually experienced first-hand the low and high of the marketplace, and discovered a thing or 2 along the method.

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Salinas began the day as a panelist at the primary phase of the Miami Beach Convention Center amongst fellow billionaires Orlando Bravo, Marcelo Claure and Dan Tapiero. In a conversation entitled “Bitcoin Billionaire Capital Allocators,” Salinas revealed that 60% of his portfolio remains in Bitcoin, while the other 40% is a mix of oil and gas financial investments.

From left, mediator Greg Foss, Marcelo Claure, Ricardo Salinas, Dan Tapiero and Orlando Bravo.

That very same day, April 7, fellow conference participant Mexican senator Indira Kempis revealed that she proposed legislation to make Bitcoin legal tender in Mexico. Mexico would follow El Salvador, Roatán, Honduras and Madeira, Portugal if it does go through with the legislation. When asked what he considered this, Salinas stated it’s “going to be an uphill battle” to make this take place due to the fact that his nation “unfortunately” has a frame of mind that is too connected to its control over fiat, or what he calls “fiat fraud.”

“The powers at the central bank and ministry of finance hate Bitcoin because of the freedom it represents and it’s a direct threat to their monopoly money.”

As the creator of the Mexican bank, Banco Azteca, Salinas confesses he becomes part of a troublesome system and exposes that he’d enjoy for his bank to have access to bitcoin payments, deposits and financing. In the meantime, nevertheless, as the owner of the Elektra Group grocery store chain, he is presently dealing with making it possible for the merchants to accept Bitcoin payments for all products.

Related: Lightning to strike Shopify merchants with addition of BTC payments

While sitting with Cointelegraph, he stated that Bitcoiners stay a little portion of the overall population which there is still a long method to precede there is universal adoption. He likewise advised audiences that no matter a financier’s age, the most crucial quality any financier can have is interest and the psychological openness to constantly discover.