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Mexican Billionaire Ricardo Salinas Pliego Urges People to Buy Bitcoin

·2 min read

Bitcoin has gained numerous advocates over the past few years, with some billionaires and popular investors urging people to buy the cryptocurrency. The advocacy has helped Bitcoin to reach more people and increase the adoption of the broader cryptocurrency market.

Ricardo Salinas Pliego Tell Followers to Steer Clear of Fiat Currencies

Ricardo Salinas Pliego, the third richest person in Mexico, has sent a new year message to his followers, urging them to steer clear of fiat currencies. He asked them to invest in cryptocurrencies such as Bitcoin.

In his New Year message, Salinas stated that “Steer clear of fiat money. Whether it’s the Dollar, the Euro, or the Yen –it’s all the same. It’s fake money made of paper lies. Central banks are producing more than ever. Invest in Bitcoin!”

The message doesn’t come as a surprise, as Salinas has been a long-term investor in Bitcoin. He has been a Bitcoin evangelist since 2013, describing himself as a Mexican businessman and Bitcoin holder.

Salinas intends to make Banco Azteca the first lender in Mexico to do business in Bitcoin. He pointed out that he bought Bitcoin at $500 in 2013, and it was his best investment ever. The broader cryptocurrency market has been performing well in recent days, with the total market cap now around $2.4 billion.

Bitcoin Tops the $51k Level

Bitcoin has been performing well in recent days after trading below the $50k level in recent weeks. Over the past 24 hours, Bitcoin’s value has increased by more than 2% and is trading above $51k.

BTC’s is trading below its 50-day moving average. Source: FXEMPIRE
BTC’s is trading below its 50-day moving average. Source: FXEMPIRE

BTC’s technical indicators show that the coin is recovering from its recent lows. The MACD line is below the neutral zone but is steadily rising and could enter the positive region if the market momentum is maintained. Furthermore, the RSI of 52 shows that Bitcoin could head towards the overbought territory soon. However, BTC is still trading below its 50-day moving average of $54,443.

If the market momentum is maintained, BTC could break past the $52k level over the coming hours. An extended market rally would allow BTC to surpass the second major resistance level at $54,207.

This article was originally posted on FX Empire

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