July 31, 2021

Bitcoin is the new Gold ”Ricardo Salinas Pliego

“Absolutely right” to see Bitcoin as the new gold – Mexico’s 3rd richest man

Ricardo Salinas Pliego once again backs Bitcoin as gold and the US dollar come under serious criticism.

Bitcoin (BTC) is definitely the “new gold” for Mexico’s third richest man, Ricardo Salinas Pliego.

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

Pliego reiterates the advantages of Bitcoin

Pliego, already well known as a supporter of Bitcoin, stuck to his belief, reinforcing South America’s new penchant for the biggest cryptocurrency.

“It’s absolutely true, Bitcoin is the new gold, but too more portable, transporting Bitcoin is so much easier than having your gold bars in your pockets … and I know I’m going to be attacked by gold lovers, ”he replied. a tweet from MicroStrategy CEO Michael Saylor.

Saylor was linked to a previous video interview with Pliego in which he claimed that Bitcoin easily beats the US dollar when it comes to preserving wealth.

Pliego has professed his admiration for Bitcoin on several occasions and on various platforms, including in a dedicated interview with Cointelegraph earlier this year.

When a Twitter user asked him how Mexico could follow El Salvador into legal tender, Pliego nonetheless made a blank.

“No idea,” he replied.

As Cointelegraph reported, El Salvador’s new era with Bitcoin as its legal tender comes into effect in September, while Paraguay is also making noise about increased use.

Gold vs Bitcoin (XAU / BTC) Daily Chart

Source : TradingView

Schiff: No one will buy the fund for $ 30,000 USD

Meanwhile, the debate over Bitcoin versus gold remains alive and well.

Peter Schiff, arguably the loudest gold bug on Twitter, continues to denounce Bitcoin as vastly inferior to the precious metal.

“Most Bitcoin buyers who bought the last low below $ 30,000 USD will not buy the next one,” he said in one of the two tweets on Friday.

“The main buyers will be those who took profits during the rebound. Therefore, the next decline will not have as much support. New buyers will likely appear at $ 20,000 USD, but less than $ 30,000 USD. ”

A drop to $ 20,000 USD or even less has been recognized as a possibility by analysts themselves. This weekend, however, Bitcoin retained support of $ 30,000 USD after retesting.

Par William Suberg, Cointelegraph

William Suberg became interested in Bitcoin as he was completing his masters degree and hasn’t looked back since, writing about everything cryptocurrency-related, which makes him sit down and catches his eye. He started working with Cointelegraph in October 2013.

The opinions expressed here are solely those of the author and do not necessarily reflect the views of Forex Quebec. Every investment and trading move comes with risk, you should do your own research when making a decision.

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