Bitcoin Price Climbs After Mexican Billionaire Urges People to Buy – The Wall Street Journal

bitcoin-price-climbs-after-mexican-billionaire-urges-people-to-buy-–-the-wall-street-journal

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

The price of bitcoin climbed to $34,140.94 Monday, up 6% from where it stood at 5 p.m. ET Friday, according to CoinDesk. The digital currency has lost almost half its value since it hit an all-time high of over $63,381.20 in mid-April.

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

Some hours later, he tweeted again in Spanish to say the digital currency was a good way for investors to diversify their holdings. “I think that any investor should start learning about cryptocurrencies and their future. At @BancoAzteca we are working to bring them to our clients,” the post said.

Representatives for Banco Azteca SA didn’t immediately respond to a request for further details or comment.

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