Mexico.- Although he became a big defender of cryptocurrencies, the businessman Ricardo Salinas Plego has remained silent on the fall in the value of bitcoinDue to which investors have lost crorepati.
bitcoin for the past few months, cryptocurrency Most important worldwide, a downward trend has been encountered which causes it to lose more than half of its value, falling p.or less than $30,000 Last Tuesday, May 10, a level not seen since July 2021.
It shows depreciation a Bitcoin price drops 57% to all-time high November 2021, which has turned into a huge loss for individuals and funds investing in cryptocurrencies in recent months.
Read more: This is how the dollar is worth in Mexico today, Friday, May 13, 2022
In this context, millionaire Ricardo Salinas Pligo, who has become a staunch defender of cryptocurrencies in Mexico and even Advised to buy bitcoin in case of inflationThe most important cryptocurrency in the world has remained silent on the steep fall.
From his social network, the owner of Banco Azteca has urged his followers to invest their money in bitcoin, making sure it is the best way to protect and counteract the effects of inflation in Mexico.
“We already know what’s going to happen with inflation, I suggest you buy #Bitcoin to take care of your moneyMinimum a small savings,” wrote Salinas Plego on Twitter on April 11, 2022.
Mexico’s third-richest man also carried some of his businesses, such as Electra stores, to begin accepting payments via bitcoin, despite the fact that the Bank of Mexico (Banxico) has warned against buying or selling goods in the country. Cryptocurrencies cannot be used to sell.
Some users of the social network who decided to follow the advice of Salinas Plego They Have Started Questioning This Before the Fall of BitcoinAsking for an explanation or remedy to avoid losing your money.
“@RicardoBSalinas What’s up with #bitcoin?”, “Uncle @RicardoBSalinas taught us to enter the world of bitcoin, now teach us to exit this fall”, are some of the user comments that read in Twitter.
However, by noon on 13th May 2022 the employer Ricardo Salinas Plego has no comment Or a recommendation to his followers in the event of a fall in the value of bitcoin.
Why did bitcoin drop?
After losing nearly 20% in five days, the cryptocurrency market lost over $200 billion in a single day, with bitcoin falling below $26k for the first time in 16 months.
In turn, Ether, the second most popular cryptocurrency, suffered a drop below $2,000, trading at $1,719 per unit on May 12, a rate not seen since July last year.
Investors are withdrawing their investments in these cryptocurrencies that have been hit by inflation, the United States Federal Reserve’s aggressive policy of raising interest rates and downward revision of economic projections.
Read more: Treasury maintains fiscal stimulus to price petrol and diesel for tenth week
Bitcoin’s decline is theoretically fueled by the crash of the dollar-linked TeraUSD cryptocurrency, which hit an all-time low of 23 cents on May 11.
Unlike other cryptocurrencies, TeraUSD is not backed by other assets, but instead maintains parity with the dollar through a complex algorithm involving Luna, a supported cryptocurrency.
with information from EFE,
Cala Salinas Pligo before the fall in the value of bitcoin