Home / Business / ‘Most accurate’ to think Bitcoin is the new gold — Mexico’s 3rd richest man

‘Most accurate’ to think Bitcoin is the new gold — Mexico’s 3rd richest man

Bitcoin (BTC) Is The Third Richest “New Gold” In Mexico Ricardo Salinas Pliego

In a tweet on June 27, Ricardo Salinas Pliego confirmed that he recommends Bitcoin as an investment rather than fiat currency or gold.

Pliego Emphasizes the Benefits of Bitcoin

Pliego, better known as a Bitcoin advocate, stuck with his sentiment. This gave rise to a new preference in South America for the largest cryptocurrency.

“That’s right, Bitcoin is the new gold. Bitcoin is much easier to transport than having gold bars in your wallet … and I know I will be attacked by gold lovers,” he replied, tweeted by MicroStrategy CEO Michael Saylor.

Saylor was linked to an earlier video interview with Pliego in which he argued that Bitcoin easily beats the US dollar when it comes to wealth preservation.

Pliego has expressed his admiration for Bitcoin on multiple occasions and platforms. including an interview with Cointelegraph earlier this year

When asked by Twitter users how Mexico could track El Salvador in legalizing the contest, Pliego didn̵

7;t answer.

“No idea,” he replied.

As Cointelegraph reports, a new era of El Salvador’s legal tender BTC goes into effect in September. Meanwhile, Paraguay has also made noise about its increasing use.

XAU/BTC 1 day candlestick chart. Source: TradingView.

Schiff: No one will buy a $30,000 Dip.

meanwhile The Bitcoin vs Gold debate is alive and well.

RELATED: Bitcoin Is on the Rise, But BTC Can’t Beat Gold’s 10T Market Cap — Former NYSE Head

Peter Schiff, who is said to be the most vocal gold bug on Twitter, continues to condemn Bitcoin as being significantly inferior to precious metals.

“Most Bitcoin buyers who buy as low as $30,000 won’t make their next purchase,” he claimed in one of two tweets Friday.

“The main buyers will be the ones who profit from the bounce. So the next drop won’t get much support. New buyers tend to show up at $20,000, but less than they do at $30,000.”

Analysts admit that a fall to $20,000 or below is possible, however, this weekend BTC/USD continued to support $30,000 after new tests.