‘Absolutely correct’ to consider Bitcoin the new gold – Mexico’s third richest man

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Ricardo Salinas Pliego doubles down on Bitcoin as gold and the US currency come under fire.

Ricardo Salinas Pliego, Mexico’s third richest man, considers Bitcoin (BTC) to be the “new gold”

Ricardo Salinas Pliego acknowledged allegations that he promotes Bitcoin as an investment above fiat currencies or gold in a tweet on June 27.

Pliego reiterates Bitcoin benefits

Pliego, who was already well-known as a Bitcoin supporter, has remained steadfast in his belief, adding to South America’s growing fondness for the world’s largest cryptocurrency.

“That’s totally right, Bitcoin is the new gold, but too much more portable, transport Bitcoin is so much easier than having your in pockets gold bars … and i know that I’m going to be attacked by gold lovers,” he responded to a tweet by MicroStrategy CEO, Michael Saylor.

Saylor had previously referred to a video interview with Pliego in which he stated that Bitcoin easily outperforms the US dollar in terms of asset protection.

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Pliego has professed his admiration for Bitcoin on multiple occasions and various platforms, including in a dedicated interview at the start of the year.

When asked by a Twitter user how Mexico could follow El Salvador in making it legal tender, Pliego nonetheless drew a blank.

“No idea,” he replied.

El Salvador’s new age of legal currency BTC begins in September, as previously reported, and Paraguay is also making noises about increasing adoption..

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

Schiff: No one will buy the $30,000 dip

Meanwhile, the debate regarding Bitcoin versus gold remains alive and kicking.

Peter Schiff, arguably the most vocal gold bug on Twitter, continues to denounce Bitcoin as vastly inferior to the precious metal.

“Most of the Bitcoin buyers who bought the last dip below $30K will not buy the next,” he claimed in one of two tweets on Friday.

“The main buyers will be those who took profits on the bounce. Therefore the next dip will not enjoy nearly as much support. New buyers will likely show up at $20K, but fewer than did at $30K.”

Analysts even have recognised that a drop below $20,000 or perhaps lower is a possible. However, following a new retest this weekend, BTC/USD maintained $30,000 support.

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