Making Bitcoin legal tender in Mexico will be “an uphill battle,” says Ricardo Salinas

During the Bitcoin 2022 conference in Miami, Florida, Cointelegraph caught up with Ricardo Salinas, founder and chairman of Grupo Salinas, in an exclusive sit-down interview. An early Bitcoin (BTC) adopter, Salinas has seen the ups and downs of the market first-hand since his $200 days and learned a thing or two along the way.

Salinas started the day as a panelist on the main stage at the Miami Beach Convention Center with fellow billionaires Orlando Bravo, Marcelo Claure and Dan Tapiero. In a discussion titled “Bitcoin Billionaire Capital Allocators,” Salinas revealed that 60% of its portfolio is invested in Bitcoin, while the other 40% is a mix of oil and gas investments.

From left presenter Greg Foss, Marcelo Claure, Ricardo Salinas, Dan Tapiero and Orlando Bravo.

On the same day, April 7, another conference attendee, Mexican Senator Indira Kempis, announced that she was proposing legislation to make Bitcoin legal tender in Mexico. Mexico would follow El Salvador, Roatán, Honduras and Madeira, Portugal in implementing the legislation. When asked what he thinks about this, Salinas said it’s going to be “an uphill battle” to achieve that because his country “unfortunately” has a mindset that’s too clingy to its control of Fiat, or what he calls “Fiat called “fraud”. “

“The leaders of the central bank and the Treasury hate bitcoin because of the freedom it represents and it is a direct threat to their monopoly money.”

As the founder of Mexico’s Banco Azteca, Salinas admits he’s part of a troubled system and reveals he would love his bank to have access to bitcoin payments, deposits, and lending. But now, as the owner of supermarket chain Elektra Group, he is working to enable retailers to accept bitcoin payments for all items.

Related: Lightning Strikes Shopify Merchants With Additional BTC Payments

Sitting with Cointelegraph, he said that bitcoiners are still a small percentage of the total population and that there is still a long way to go before universal adoption occurs. He also reminded viewers that regardless of an investor’s age, the most important trait of an investor is curiosity and the mental openness to continually learn.