RIYADH: Mexico's third-richest billionaire, Ricardo Salinas, founder and chairman of Grupo Salinas, a group of companies interested in communications, media, financial services and retail stores, offered some advice in a video he posted on Twitter for investing in Bitcoin.
He also advised people to stay away from paper currencies, such as the dollar and the euro, and emphasized that central banks are printing more money than ever before, describing it as fake money made of paper and lies, according to Bitcoin.com.
"Stay away from fiat money. The dollar, the euro, the yen, or the peso, they are all the same story, it’s fake money made of paper and lies. The central banks are printing more money than ever before. Invest in bitcoin," Salinas said.
Ban
The Swadeshi Jagran Manch (SJM), the Indian economic, political, and cultural organization affiliated with the nationalist Rashtriya Swayamsevak is calling for a ban on cryptocurrencies in India.
It also calls for imposing financial fines on persons or entities that do not abide by the ban.
"The government should outrightly ban buying, selling, investing and otherwise dealing in cryptocurrencies by any person resident in India, according to the decision," the organization said.
Trading
Bitcoin, the leading cryptocurrency in trading internationally, traded lower on Tuesday, falling by 2.36 percent to $49,415 at 12:12 p.m. Riyadh time.
Ether, the second most traded cryptocurrency, traded at $3,920, down by 3.07 percent, according to data from Coindesk.
