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It is 'absolutely right' to consider Bitcoin the new gold -- Mexico's third richest man

Ricardo Salinas Pliego increases his BTC support as both gold and the U.S. Dollar come under serious scrutiny.

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It is 'absolutely right' to consider Bitcoin the new gold -- Mexico's third richest man

Ricardo Salinas Pliego, Mexico's third-richest man, has decided that Bitcoin ( BTC ) is his "new gold".

Ricardo Salinas Pliego tweeted on June 27 that he recommended Bitcoin over fiat currencies and gold.

Pliego reiterates Bitcoin benefits

Pliego, already well-known as a Bitcoin advocate, has remained true to his conviction, furthering South America’s newfound love for the largest cryptocurrency.

"That's absolutely right, Bitcoin's the new gold" he replied to a tweet from MicroStrategy CEO Michael Saylor.

Saylor linked to an earlier video interview with Pliego, in which he claimed that Bitcoin beats the U.S. Dollar when it comes down to wealth preservation.

Pliego has expressed his admiration of Bitcoin on numerous occasions and different platforms, including in an dedicated interview with Cointelegraph.

Pliego did not answer a tweeter asking how Mexico could follow El Salvador's lead in legalizing it.

He replied, "No idea."

Cointelegraph reported that El Salvador's new legal tender BTC era will be in effect in September. Paraguay has also made noises about increasing use.

Schiff: The $30,000 dip will not be bought by anyone

The debate about Bitcoin versus Gold is still alive and well.

Peter Schiff, the most vocal of the gold bugs on Twitter, continues to decry Bitcoin as inferior to precious metals.

He claimed that most Bitcoin buyers who purchased the last dip below $30K won't buy the next in one of his tweets Friday.

"The biggest buyers will be those who made profits on the bounce. The next dip won't get nearly as much support. The $20K mark will see a lot more buyers than the $30K.

Analysts have considered a dip of $20,000 or lower. After a new retest, however, BTC/USD maintained $30,000 support this weekend.

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