{"id":575366,"date":"2021-06-28T12:06:01","date_gmt":"2021-06-28T16:06:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=575366"},"modified":"2021-06-28T12:06:04","modified_gmt":"2021-06-28T16:06:04","slug":"bitcoin-is-the-new-gold-mexican-billionaire-is-the-latest-executive-to-back-crypto","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bitcoin-is-the-new-gold-mexican-billionaire-is-the-latest-executive-to-back-crypto\/","title":{"rendered":"\u2018Bitcoin Is The New Gold\u2019: Mexican Billionaire Is The Latest Executive To Back Crypto"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbitcoin-is-the-new-gold-mexican-billionaire-is-the-latest-executive-to-back-crypto%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=575366&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/GettyImages-94862018.jpg?w=1200&#038;h=800&#038;ixlib=react-9.0.3\" class=\"ff-og-image-inserted\"  style=\"display:none\"><\/div>\n<p><span>Mexican billionaire Ricardo Salinas Pliego endorsed investing in Bitcoin.<\/span><\/p>\n<p><span>Salinas \u2014 who runs conglomerate Grupo Salinas and is <\/span><a href=\"https:\/\/www.forbes.com\/profile\/ricardo-salinas-pliego\/?list=rtb\/&#038;sh=3ba046cc1346\"><span>worth<\/span><\/a><span> nearly $16 billion \u2014 touted the upside potential of bitcoin over the weekend.<\/span><\/p>\n<p><span>\u201cBitcoin is the new gold,\u201d tweeted the businessman on Sunday.<\/span><\/p>\n<p><span>\u201c#Bitcoin is a great way to diversify your investment portfolio, and I think that any investor should start to study cryptocurrencies and their future,\u201d read another of Salinas\u2019 tweets in English. He also cited inflation as a \u201csilent killer\u201d and noted that his bank would work to offer bitcoin services in order to \u201ccontinue promoting freedom.\u201d<\/span><\/p>\n<p><span>\u201cThe secret of investing in #Bitcoin is to buy now and not to sell,\u201d reads another tweet. \u201cOnly sell with a specific purpose or out of necessity\u2026 and if you invest well, the latter will not happen.\u201d<\/span><\/p>\n<p><span>Salinas \u2014 along with software entrepreneur Michael Saylor and Salvadoran President Nayib Bukele \u2014 added glowing eyes to his profile picture, a popular trend among those in the cryptocurrency community. <\/span><span>Investors such as <\/span><a href=\"https:\/\/www.dailywire.com\/news\/its-better-than-gold-mark-cuban-defends-bitcoin-despite-price-drop\"><span>Mark Cuban<\/span><\/a><span> and <\/span><a href=\"https:\/\/www.dailywire.com\/news\/billionaire-bitcoin-investor-still-predicts-bitcoin-will-hit-250000-by-2022\"><span>Tim Draper<\/span><\/a><span> are also bullish on the asset.<\/span><\/p>\n<p><span>Many see Bitcoin \u2014 a cryptocurrency that <\/span><a href=\"https:\/\/www.dailywire.com\/news\/what-exactly-is-bitcoin-heres-how-the-worlds-largest-cryptocurrency-actually-works\"><span>exists<\/span><\/a><span> virtually and is transmitted between users via blockchain technology \u2014 as an alternative to fiat currencies, which derive their value from government endorsement.<\/span><\/p>\n<p><span>Commodities such as gold and silver have traditionally functioned as hedges against inflation. More recently, investors have seen Bitcoin as another viable safeguard against the eroding value of government-backed currencies.<\/span><\/p>\n<p><span>Under the leadership of President Bukele, El Salvador recently became the first nation to adopt Bitcoin as legal tender. The small Central American country does not have its own currency; it instead uses the U.S. dollar, which has been <\/span><a href=\"https:\/\/www.dailywire.com\/news\/amid-dems-aggressive-spending-plans-feds-chief-inflation-measure-posted-biggest-year-over-year-rise-since-1992\"><span>inflating<\/span><\/a><span> amid the Federal Reserve\u2019s ambitious quantitative easing regime.<\/span><\/p>\n<p><span>The Salvadoran legislation through which Bitcoin was adopted explicitly mentioned inflationary pressures caused by monetary authorities.<\/span><\/p>\n<p><span>\u201cCentral banks are increasingly taking actions that may cause harm to the economic stability of El Salvador,\u201d reads the bill. \u201cIn order to mitigate the negative impact from central banks, it becomes necessary to authorize the circulation of a digital currency with a supply that cannot be controlled by any central bank and is only altered in accord with objective and calculable criteria.\u201d<\/span><\/p>\n<p><span>In April, Bitcoin exceeded a price of $60,000 apiece. In June, however, the price dipped below $30,000 after the Chinese government worked to <\/span><a href=\"https:\/\/www.dailywire.com\/news\/judgement-day-for-crypto-with-eyes-on-digital-currency-china-continues-assault-on-cryptocurrency-blocks-social-media-crypto-accounts\"><span>discourage<\/span><\/a><span> the exchange of cryptocurrencies. Investors were not <\/span><a href=\"https:\/\/www.cnbc.com\/2021\/06\/22\/bitcoin-pullback-is-shaking-out-investors-who-have-paper-hands-says-strategist.html\"><span>dissuaded<\/span><\/a><span>, proclaiming that the correction merely filtered out those with \u201cpaper hands\u201d \u2014 a colloquialism for those who sell assets at the first sign of volatility.<\/span><\/p>\n<p><span>Presently, Bitcoin trades for nearly $35,000.<\/span><\/p>\n<p><i><span>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <\/span><\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i><span>member<\/span><\/i><\/a><i><span>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mexican billionaire Ricardo Salinas Pliego endorsed investing in Bitcoin.Salinas \u2014 who runs conglomerate Grupo Salinas and is worth nearly $16 billion \u2014 touted the upside potential of bitcoin over the &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2281512,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/GettyImages-94862018.jpg?w=1200&h=800&ixlib=react-9.0.3","fifu_image_alt":"\u2018Bitcoin Is The New Gold\u2019: Mexican Billionaire Is The Latest Executive To Back Crypto","footnotes":""},"categories":[],"tags":[],"class_list":["post-575366","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/GettyImages-94862018.jpg?w=1200&h=800&ixlib=react-9.0.3","fifu_image_alt":"\u2018Bitcoin Is The New Gold\u2019: Mexican Billionaire Is The Latest Executive To Back Crypto","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/575366","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=575366"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/575366\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2281512"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=575366"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=575366"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=575366"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}