Mexicos – LSD News

Bitcoin Gets A Billionaire Boost From Mexico’s 3rd Wealthiest Man

LSD News Szerkesztőség — Fri, 20 Jun 2025 14:00:38 +0000

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According to a recent Kitco News interview, Salinas Ricardo Pliego, founder and chairman of Grupo Salinas and Mexico’s third‑richest man, has stepped up his Bitcoin buying.

Bitcoin trades at $104,900, down over 6% from its all‑time high of $112,000. Pliego isn’t fazed by the drop. He’s loading up while others hesitate.

Pliego Ups Bitcoin Exposure

He already holds about 70% of his portfolio in Bitcoin. Based on reports, he boosted that share again last week. He didn’t share exact figures, but called it a “considerable increment.” He isn’t waiting for the perfect price. He just wants more coins in his wallet before what’s next.

Market Dip Seen As Buying Chance

Bitcoin’s slide came after Middle East tensions rattled markets. Yet Pliego says his moves aren’t tied to war news. He sees every dip as a chance to buy. Other big players are doing the same. That trend leaves fewer coins moving between wallets and exchanges. On‑chain data shows wallet balances for the largest holders climbing even as prices slip.

Inflation Hedge Arguments

Pliego has warned that fiat currency loses value over time. He pointed out that the US dollar lost about 90% of its purchasing power over the past 40 years. He echoed Strategy’s Michael Saylor when he called Bitcoin a shield against money printing. Pliego even wrote a book, “The Bitcoin Enlightenment,” where he argued that the crypto marks the end of fiat.

BTC is now trading at $104,913. Chart: TradingView

Long‑Term Outlook Remains Strong

The tycoon admits Bitcoin can swing wildly when big economic news hits. He said holders should look past daily charts. “Focus on where this thing is going,” he told Kitco News.

He isn’t alone. Coinbase CEO Brian Armstrong thinks nations will hold more digital assets than gold down the road. That idea gives Pliego plenty of confidence.

Image: BCB Group

Betting Big On Crypto

Pliego has hinted he may go all in one day. That would put every peso he owns into crypto. It’s a bold plan. It’s also a risky one, given the crypto asset’s history of 5-10% moves in a day. Still, his voice carries weight. When a billionaire piles in, others pay attention.

Salinas Ricardo Pliego is betting big on Bitcoin’s future. He’s buying at $104,701, even after a 6% pullback. He sees Bitcoin as a way to dodge inflation and come out ahead.

For now, he’s stacking sats and urging everyone else to get on board. If his bet pays off, early buyers could reap huge gains. If not, they could face steep losses. Either way, Pliego’s moves show that confidence in Bitcoin remains strong among the richest investors.

Featured image from Unsplash, chart from TradingView

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Bitcoin: Mexico’s 3rd-Richest Man Makes Strong Case For Why Investors Should Buy BTC | Bitcoinist.com

LSD News Szerkesztőség — Sat, 15 Jun 2024 23:44:26 +0000

Ricardo Salinas Pliego, the Chairman of the Salinas group and the third richest man in Mexico has strongly endorsed Bitcoin, advocating for investors to purchase the pioneer cryptocurrency. The Mexican billionaire has underscored the need to hold Bitcoin as a hedge against the devaluation of fiat currencies.

One Nigerian Naira Is Worth Less Than One Satoshi

Global economies are beginning to realize the worth of Bitcoin and its potential to become a protective store of value against economic and financial crises. Salinas Pliego, a Mexican businessman with a net worth of approximately $13.3 billion has encouraged his 1.8 million followers on X (formerly Twitter) to invest in Bitcoin.

The billionaire revealed in an earlier post that countries like Nigeria have witnessed a significant devaluation in their fiat currency, highlighting that one Naira is presently worth less than one Bitcoin Satoshi. The price of a single Satoshi is approximately $0.0002616, and with $1 equivalent to 1,480 Naira according to current rates, this underscores the Nigerian currency’s significant weakness against both BTC and the United States dollar.

On his X account, Salinas Pliego shared a post displaying a screenshot of Bitcoin’s value in Naira. At the time the price of Bitcoin was valued at over 102.4 million Naira, worth almost 50 times the average annual income in Nigeria.

In response to the significant devaluation in Nigeria’s fiat currency, Salinas Pliego stated, “Buy Bitcoin and keep them, pay attention!” The Mexican billionaire has not just advocated for Bitcoin investment for Nigerian citizens but indicated that anyone in countries experiencing currency depreciation should invest in BTC.

Nigeria is among the largest African economies, achieving a Gross Domestic Product of $477 billion in 2022. The nation recorded one of the highest inflation rates worldwide, highlighting the country’s high unemployment rate, economic instability and democratic deficit.

These numerous economic challenges have led to the devaluation of its fiat currency. In the fourth quarter of 2022, the country’s public debt stock, which includes external and domestic debt, also stood at $103.11 billion, valued at 46.25 trillion Naira.

Bitcoin As A Safeguard Against Currency Depreciation

With major countries in the world including the United States (US) grappling with economic instability and high inflation, the need for a hedge against currency devaluation has become increasingly apparent. To many, Bitcoin is emerging as a hedge against inflation, serving as a safety net for individuals seeking to safeguard their wealth from the depreciation of fiat currencies.

Prominent Bitcoin supporters and financial experts like Robert Kiyosaki, the author of ‘Rich Dad Poor Dad,’ have constantly advocated for investors to buy BTC to secure their financial future. Additionally, VanEck Chief Executive Officer (CEO) Jan van Eck previously declared that Bitcoin was the ultimate digital store of value.

Even Ark Invest CEO Cathie Woods has maintained that the pioneering cryptocurrency is set to transform into a major store of value in the wake of regional US banks collapsing.

BTC price recovers from dip | Source: BTCUSD on Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com

Mexico’s President Calls for More U.S. Support Ahead of Meeting With Blinken

LSD News Szerkesztőség — Wed, 27 Dec 2023 19:42:39 +0000

Mexico’s president said on Wednesday that the U.S. Congress should offer more support to Latin America instead of putting up barriers and “building walls,” shortly before he was scheduled to meet with Secretary of State Antony J. Blinken about a surge in migration.

President Andrés Manuel López Obrador of Mexico also said that next year’s presidential election in the United States would bring migration to the top of the agenda.

“The migration issue is going to intensify,” he said.

Mr. Blinken was in Mexico City on Wednesday at a time when border crossings have hit record numbers. There have been days this month when the U.S. Border Patrol encountered more than 10,000 people at the southern border.

A caravan that began its journey north on Sunday reflects the enormous challenges in stemming the tide of migration.

The U.S. government has sought help from its neighbors in border restriction efforts, especially in recent years as migrants from across the globe have passed through the southern border in skyrocketing numbers.

Mexico’s role in that effort has taken on greater importance. During the Trump administration, the country agreed to take migrants under the former president’s “Remain in Mexico” policy.

The migrants waited in border towns for months as they awaited court hearings in the United States, a key pillar to Trump’s crackdown on asylum seekers.

Later, during the institution of Title 42, a measure that allowed border agents to quickly expel asylum seekers, Mexico agreed to take in migrants from other countries.

The southern border has been a consistent political vulnerability for President Biden, who has struggled to keep the numbers down despite trying to institute limits on asylum access at the border and deporting migrants to Venezuela and Cuba.

Immigration has also become central in discussions in Congress over aid to Ukraine and Israel, because Republicans have refused to approve the money without a new crackdown at the border.

Mr. López Obrador said that Congress should be looking into “how to authorize resources for cooperation and support for the poor peoples of Latin America and the Caribbean instead of putting up barriers, barbed wire fences on the river or thinking about building walls.”

“It is more efficient and more humane to invest in the development of the people,” he said.

Wednesday’s meeting will also include Alejandro N. Mayorkas, the homeland security secretary, and Liz Sherwood-Randall, the White House homeland security adviser.

The migrant caravan has seized headlines in part because of its timing, just ahead of Mr. Blinken’s visit. Migrant caravans have become a common phenomenon and are usually broken up by the authorities well before they reach the U.S. border.

The caravan, roughly 1,000 miles south of the U.S. border in the state of Chiapas, includes migrants from Honduras, Haiti and Cuba, among other countries. The Mexico office of the U.N. refugee agency said in a statement that the procession was starting to disperse and consisted of “no more than 3,000 people.”

It initially included approximately 5,000 people, the agency said.

Republicans have stepped up their attacks on Mr. Biden over the border numbers, a continuing issue for the president as he seeks re-election next year. In Texas, Gov. Greg Abbott signed a law that authorizes law enforcement officials in his state to arrest migrants who cross without authorization. (El Paso County challenged the measure in federal court last week.) The president has also faced pressure from mayors in Democratic cities over the increase in migrants arriving in their cities.

The increase in border crossings in recent weeks has forced border officials to shut down railway crossings temporarily in El Paso and Eagle Pass, Texas, and to close the port of entry in Lukeville, Ariz. While the railway crossings are reopened, Biden administration officials plan to speak to Mexican officials about the port of entry closures, officials said in a statement.

Last week, Mr. López Obrador briefed reporters about a call with Mr. Biden in which they agreed that more enforcement at the border was needed.

“Now we have an extraordinary situation because the number of migrants passing through our country with the purpose of reaching the United States has increased,” he said, adding that Mexico was “going to help, as we always do.”

U.S. Customs and Border Protection officials announced on Friday that there were more than 190,000 apprehensions between ports of entry in November. U.S. officials said they “removed or returned” more than 400,000 people between May and the end of November.

“We are facing a serious challenge along the southwest border, and C.B.P. and our federal partners need more resources from Congress — as outlined in the supplemental budget request — to enhance border security and America’s national security,” Troy Miller, the acting leader of the border agency, said in a statement on Friday.