Mexican Billionaire Bank Banco Azteca Will Soon Accept Bitcoin
Ricardo Salinas Pliego, a Mexican billionaire and the owner of one of the top banks in Mexico, Banco Azteca, has tweeted that his bank will soon start supporting Bitcoin payments in his bank.
Salinas Changes Twitter Profile Picture In Apparent Bitcoin Support
Perhaps as proof of confirmation, Salinas’ Twitter profile picture now contains Bitcoin laser eyes. Salinas had announced two months ago that he is planning to make his bank the first to support the king of cryptocurrencies.
Salinas Bitcoin Laser Eyes Twitter Profile Picture. Source: Twitter
Also, the billionaire businessman revealed in an interview late last year that 11% of his investment portfolio is now in Bitcoin. He referred to Bitcoin as an excellent investment diversifier. He further said, “I suggest that investors need to start acquainting themselves with crypto knowledge; it’s the future. Our number one objective at Banco Azteca is to help our customers achieve financial freedom.” However, Salinas doesn’t support all cryptocurrencies, as shown in his response to a Dogecoin enthusiast he told would remain poor if he keeps investing in the meme coin. His tweet went viral at that time.
Bitcoin Mining Difficulty Takes A Second Jump
Following China’s clampdown on cryptocurrency mining activities in the region, the Bitcoin mining difficulty (BMD) declined considerably. At its peak, which was about 25 Terahash, China’s Bitcoin mining operations were responsible for 75% of the total Bitcoin hash rate worldwide. But the current BTC.com data reveal that the BMD has been rising for almost two months now.
Now that these Chinese miners are settling in places where they can continue their mining operations, the Bitcoin mining difficulty has increased by about 14% after jumping for a second time. Since starting to rise around mid-June, this is the first time the BMD will exceed 15 Terahash (T).
Analysts expect that the difficulty should be close to 16 Terahash by the august 27 adjustments. Before these Chinese miners settled in their new environments, profits for miners from other crypto-friendly regions surged remarkably because there was a drastic reduction in the number of miners confirming the blocks.
Recent Statista data reveal that the United States is attempting to close the vacuum left the Chinese Bitcoin miners. The hash rate in the US has risen to almost 18%, following a 47% reduction in that of China.
A CNBC survey of crypto-economic analysts and miners suggests that some believe that the changes in the Bitcoin difficulty adjustment method will make it less profitable for miners by about 8%. Others also said Bitcoin hash power is likely to increase by multiple folds with the same electricity consumption rate because the new mining machines are far more efficient than the older ones.
An increased Bitcoin hash rate will logically result in greater computational costs. Meanwhile, BTC erased yesterday’s decline and even gained about 6% in few hours (according to Cointelegraph markets pro data) as it continues to show signs of staying higher than the $40K range.
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