Billionaire Drags ETH, DOGE in Favor of BTC, XMR, ZEC

Mexican billionaire Ricardo Salinas Pliego dismissed popular altcoins Ethereum and DOGE. At the same time, Pliego praised bitcoin as his bank braces to accept the top crypto.

Pliego went on to call altcoins like Dogecoin sh*tcoins, telling a DOGE fan “you’ll stay poor, good luck.” On the other hand, he hyped privacy coins like Monero (XMR) and Zcash. The billionaire even claimed the coins have an advantage over BTC thanks to their enhanced privacy.

All this happened in a recent Twitter storm that occurred after fellow BTC bulls tweeted a video of Pliego. Specifically, Michael Saylor and Anthony Pompliano praised the billionaire for his BTC stance.

In the video, Pliego explained that his faith in BTC is based on the asset’s attributes. He called the top crypto “an asset that has value, that is traded with enormous liquidity at a global level, and that is enough reason for it to be part of every portfolio.” Pliego also added,

The infinite supply of BTC, the 21 million, is the key part. That’s why I say about ETH, while they don’t have an infinite, I don’t believe in anything they do, for all I know they could emit more and your investment depreciates.

In response to Saylor and Pompliano, Pliego tweeted that he recommends the use of BTC. Also, he shared that his bank is working on becoming the first Mexican bank to accept BTC. apart from the bank Banco Azteca he also owns a retail and media empire.

Pliego disclosed his BTC purchase last year and encouraged his Twitter followers to also invest in the asset. Since then Pliego has become one of Mexico’s biggest BTC supporters.

In addition, the billionaire has close ties to the Mexican government. In fact, it has become quite trendy for South American MPs to come out as pro-bitcoin. So far, MPs from Paraguay, Argentina, Panama, and Brazil have spoken out in favor of BTC. The trend picked up momentum when El Salvador first started considering adopting BTC as legal tender.

In fact, the El Salvador congress went on to vote the BTC bill into law, making the country the first to adopt crypto as legal tender. Similarly, a rising number of Mexican politicians have backed BTC. These include Neovo Leon senator Indira Kempis and Mexico’s Green Party member Eduardo Murat Hinojosa.

Source: https://coinquora.com/billionaire-drags-eth-doge-in-favor-of-btc-xmr-zec/