Making Bitcoin legal in Mexico will be an “uphill battle,” says Ricardo Salinas

Billionaire and Bitcoin Supporter, Ricardo Salinas

Salinas has been an early adopter of Bitcoin (BTC) since it was $200, Salinas has seen the highs and lows of the market, and I’ve learned a thing or two along the way.

Salinas began his day as a speaker on the main stage of the Miami Beach Convention Center, where he was joined by fellow billionaires Orlando Bravo, Marcelo Clore, and Dan Tapiro. In a debate titled “Bitcoin Billionaire Capital Allocators,” Salinas stated that Bitcoin accounts for 60% of his portfolio, with the other 40% made up of oil and gas investments.

From left, moderator Greg Voss, Marcelo Clore, Ricardo Salinas, Dan Tabero and Orlando Bravo.
“Source Cointelegraph”

On the same day, April 7, fellow conference participant Mexican Senator Indira Kempes stated that she has introduced legislation to make Bitcoin legal cash in Mexico. If the measure is passed, Mexico will follow in the footsteps of El Salvador, Roatan, Honduras, and Madeira Portugal. When asked what he felt about the topic, Salinas stated it would be “an uphill struggle” to make it happen since his nation “sadly” has a mentality tightly related to its control of legal orders, or what he refers to as “compulsory fraud.”

“The authorities in the Central Bank and the Ministry of Finance hate Bitcoin because of the freedom it represents and it poses a direct threat to their monopoly money.”

As the founder of the Mexican bank Banco Azteca, Salinas admits to being a part of a broken system and expresses a wish for his bank to be able to accept Bitcoin payments, deposits, and lending. Meanwhile, as the owner of the Electra Group grocery chain, he is pushing to let stores accept Bitcoin payments for all products.

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