Bitcoin Price Climbs After Mexican Billionaire Urges People to Buy

Bitcoin’s price rose after billionaire Ricardo Salinas Pliego said his bank was working to become the first Mexican lender to accept the cryptocurrency.

Bitcoin price climbed to $ 34,805.19 on Monday, an 8% increase from what it was at 5 p.m. ET on Friday, according to CoinDesk. The digital currency has lost almost half of its value since it hit an all-time high of over $ 63,381.20 during a wave of speculation in mid-April Spurred on by prominent proponents including Tesla Inc. CEO Elon Musk.

Mr Salinas Pliego tweeted over the weekend that he recommends using Bitcoin. “Me and my bank are working to be the first bank in Mexico to accept #Bitcoin,” he added.

A few hours later, he tweeted again in Spanish to say the digital currency was a great way for investors to diversify their holdings. “I think every investor should start learning about cryptocurrencies and their future. At @BancoAzteca we are working on making them available to our customers, ”says the post.

Banco Azteca SA representatives did not immediately respond to a request for further details or comments.

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