Monday, November 29, 2021


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

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

Pliego reiterates Bitcoin advantages

Pliego, already well known as a Bitcoin proponent, has caught by his conviction, furthering South America’s newfound penchant for the most important cryptocurrency.

“That’s completely proper, Bitcoin is the brand new gold, however an excessive amount of extra transportable, transport Bitcoin is a lot simpler than having your in pockets gold bars … and i do know that I’m going to be attacked by gold lovers,” he responded to a tweet by MicroStrategy CEO, Michael Saylor.

Saylor had linked to a earlier video interview with Pliego by which he argued that Bitcoin simply beats the U.S. greenback with regards to wealth preservation.

Pliego has professed his admiration for Bitcoin on a number of events and numerous platforms, together with in a dedicated interview with Cointelegraph at the beginning of the yr.

When requested by a Twitter consumer how Mexico may observe El Salvador in making it authorized tender, Pliego nonetheless drew a clean.

“No thought,” he replied.

As Cointelegraph reported, El Salvador’s new period of authorized tender BTC comes into drive in September, whereas Paraguay can be making noises about elevated use.

XAU/BTC 1-day candle chart. Supply: TradingView

Schiff: Nobody will purchase the $30,000 dip

In the meantime, the controversy relating to Bitcoin versus gold stays alive and kicking.

Associated: Bitcoin in uptrend but BTC may never beat gold’s $10T market cap — ex-NYSE head

Peter Schiff, arguably essentially the most vocal gold bug on Twitter, continues to denounce Bitcoin as vastly inferior to the dear metallic. 

“A lot of the Bitcoin patrons who purchased the final dip under $30K is not going to purchase the following,” he claimed in certainly one of two tweets on Friday.

“The primary patrons will probably be those that took income on the bounce. Due to this fact the following dip is not going to get pleasure from almost as a lot help. New patrons will doubtless present up at $20K, however fewer than did at $30K.”

A dip to $20,000 and even decrease has been acknowledged as a risk by analysts themselves. This weekend, nevertheless, BTC/USD preserved $30,000 support after a contemporary retest.