Crypto News
30 Jun 2021

What do a Cricketer and a Mexican Billionaire have in common?

Farheen Shaikh

Despite sceptics declaring doomsday on bitcoin, several of the world’s influential individuals continue to bet on digital currencies. The most recent being England’s cricketer Kevin Pietersen and Mexican billionaire Ricardo Salinas Pliego. 

Kevin Pietersen 

The former England cricketer known for his forcefulness on the pitch is now batting for bitcoin in real life. On the 28th of June, Pietersen, with a Twitter following of 3.7 million people, updated his profile picture with iconic red laser eyes in his show of support for the cryptocurrency. 

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The carefully calibrated move by Pietersen was prompted by Peter McCormack, the host of the “What Bitcoin Did” podcast. Interestingly, within hours of joining the bitcoin club, Pietersen gave his valuable 2 cents on the bitcoin rules one should follow. 

Ricardo Salinas Pliego 

Mexico’s third-richest man, Ricardo Salinas Pliego, has given the bitcoin community a pleasant surprise. 

In an interview last week, Pliego announced that his bank, Banco Azteca, is working towards becoming the first in Mexico to accept bitcoin. He further added that ‘fiat money is fraud’ and strongly recommended the use of bitcoin for the future. 

Though a likely resistance from the Mexican government is expected, Pliego opened up the pandora’s box. The interview exposed the problems with fiat currency and the monetary mismanagement by central banks. 

The Mexican magnate also promoted bitcoin as a better financial asset than gold for the future. “The problem with gold is where you keep it, that is, the custody of gold bars is not an easy thing,” he noted. 

Why Is This Important for Bitcoin Investors?

The recent crypto crash following the Chinese crackdown has left the market in shambles. A massive downward trend has harmed investor confidence. 

Despite bitcoin struggling to cross the $40,000 threshold per unit, the fundamentals have remained the same, with ample scope for an upward trend. Bullish signs displayed by High Networth Individuals (HNI) at times of distress will have a net positive result in the long haul. 

The two key takeaways from the duo’s investment journey for bitcoiners are undoubtedly to look at the larger picture and play the long-term game.

P.S: KuberVerse is an educational initiative. Anything expressed here directly or indirectly is not investment advice. And we ask you to do your own research before investing.

Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.

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Farheen Shaikh

Content Writer

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