Third richest man in the world writes #Bitcoin in Twitter bio

Elon Musk as role model: third richest man in the world writes #Bitcoin in Twitter bio

Mexican billionaire Ricardo Salinas Pliego has taken a cue from Elon Musk and added the bitcoin hashtag to his Twitter bio. His profile now reads „Mexican businessman #Bitcoin“.

Pliego revealed last year that he holds 10 percent of his liquid assets in the leading Crypto Trader cryptocurrency. Around that time, he posted a video showing thousands of Venezuelan bolivars being thrown in the trash – with the caption: „This is inflationary expropriation!“

Bitcoin continues to gain momentum

This year has seen a flurry of high-profile figures championing the number one cryptocurrency. Musk, arguably the best-known figure, has been joined by a number of others.

Russell Okung of the Carolina Panthers went full Bitcoin in late January with a tweet stream commenting on the benefits of owning it. He also added Bitcoin (To buy bitcoin cheap guide) to his Twitter bio and urged his followers to do the same.

Several celebrities followed suit, including singer-songwriter Joy Villa, YouTuber Mr Beast, Sofia Hayat, Reddit co-founder Alexis Ohanian and many others.

But Mexico’s third richest person has now belatedly joined the movement. Ricardo Salinas Pliego is ranked by Forbes as the 171st richest person in the world. He has an estimated net worth of $13.7 billion.

Pliego is the founder and chairman of the corporate conglomerate Grupo Salinas. The group’s interests include telecommunications, media, financial services and retail.

Despite his vast fortune, Pliego has expressed concern about the pursuit of reckless monetary policies.

Is Musk in trouble with the Securities and Exchange Commission?

Tesla announced last week that it would buy $1.5 billion worth of Bitcoin. In the run-up to the announcement, the Tesla CEO was active on Twitter, posting about Dogecoin and Bitcoin.

One such incident, where he added #Bitcoin to his Twitter bio, led to a price increase of almost $8k. The „Elon candle“, as it is known, drew criticism from several observers – including Nouriel Roubini, who accused Musk of market manipulation.

Doug Davison, a former division chief at the SEC, agrees that Musk’s actions warrant SEC intervention.

„It wouldn’t be surprising – given the focus on the chief executive’s tweets, bitcoin prices and recent dramatic market moves – that the SEC would ask questions about the facts and circumstances here.“

Musk is familiar with SEC sanctions. It previously sued him over his tweets about taking Tesla private – which would have violated securities law.

He has since removed any mention of Bitcoin from his Twitter profile.

Deutsche Bank prepares cryptocurrency custody service

Deutsche Bank, the largest bank in Germany, has been preparing a cryptocurrency custody service for institutions for a few months. Ultimately, the bank also plans to create a platform for the exchange and issuance of tokens.

Deutsche Bank enters the world of cryptocurrencies

World Economic Forum report titled „Crypto, What It’s For: An Overview of Cryptocurrency Use Cases“ Outlines That Deutsche Bank Plans To Launch A Cryptocurrency Custody Service In 2021 .

As the media Coindesk indicates , the arrival of the largest German bank in the world of Crypto Genius scam has curiously passed under the radar, the report having been published in December 2020.

“Deutsche Bank aims to develop a custody platform that is fully suited to institutional clients and their digital assets, providing seamless connectivity to the larger cryptocurrency ecosystem,” the report read.

Deutsche Bank’s goal is clear. The bank wishes to offer its clients a cold storage solution of institutional quality , which will be accompanied by insurance cover.

This new ecosystem for cryptocurrencies will be launched in 4 stages, and will go beyond the “simple” conservation of funds.

The first phase will effectively focus on providing a custodial service for large investors. The second phase will offer the possibility for Deutsche Bank customers to buy and sell their goods through partners.

More interestingly, the third phase will introduce plethora of “ value-added” services related to cryptocurrencies such as tax assistance, loans, staking and even the integration of third-party providers within the platform.

Finally, the last step for Deutsche Bank will be to natively provide token trading and issuance capabilities .

Project already well advanced, the report tells us that Deutsche Bank has completed its proof of concept and is targeting a minimum viable product in 2021 .

Cryptocurrencies invite themselves to banks

Deutsche Bank is one of a number of leading banks to have entered cryptocurrency in recent times. Since the price of Bitcoin (BTC) continues to climb, major banks around the world are taking a new look at cryptocurrency.

The announcements follow one another, between The Bank of New York Mellon which will also offer services related to cryptocurrencies, or JPMorgan, which will integrate Bitcoin trading if demand becomes sufficient .

Along with private banks, some central banks are very open to the idea of ​​buying Bitcoin. This is particularly the case of that of Kenya, which plans to acquire Bitcoin to fight against the depreciation of its currency , the shilling.

This trend is not new, but has accelerated greatly in recent weeks, especially since Tesla’s investment of $ 1.5 billion in Bitcoin was made public.

All of this continues to take Bitcoin to new heights and contributes to the adoption of cryptocurrencies, both with institutions and individuals.