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Mexican billionaire Salinas says his banking business may embrace bitcoin

Reuters
·1-min read
Illustration of Bitcoin

MEXICO CITY (Reuters) - Mexican billionaire Ricardo Salinas Pliego said on Sunday his banking business may begin using bitcoin, becoming the country's first bank to start accepting the cryptocurrency.

Salinas, who is ranked as Mexico's third richest man with a family fortune estimated at $15.8 billion by Forbes, is the owner of the large Banco Azteca banking business.

Salinas last year said he had about 10% of his liquid portfolio invested in bitcoin. On Sunday, he said all investors should study cryptocurrency and their future.

"Sure, I recommend the use of #Bitcoin, and me and my bank are working to be the first bank in Mexico to accept #Bitcoin," Salinas said in a tweet.

Bitcoin rallied around 7.5% on Sunday to trade at around $34,500.

(Reporting by Diego Ore; Writing by Drazen Jorgic; Editing by Sonya Hepinstall)