Leading Mexican Retailer Grupo Elektra Accepts Bitcoin – Featured Bitcoin News

Mexico’s Grupo Elektra, a leading retailer in Latin America, is accepting bitcoin for payments. The chain belongs to conglomerate Grupo Salinas, which is owned by Mexico’s third-richest billionaire, the pro-bitcoin Ricardo Salinas Pliego.

Ricardo Salinas Pliego’s Retail Chain, Grupo Elektra, Now Accepts Bitcoin

Elektra is a supermarket and banking chain belonging to conglomerate Grupo Salinas, which is owned by Mexico’s third-richest billionaire, Ricardo Salinas Pliego. Salinas tweeted Thursday:

These rumors are true. Elektra, a retail store located in Mexico City, allows customers to pay with bitcoin. I’m very sorry to beat the competition again.

The retail chain will also offer a 20% discount for purchases made using bitcoins, according to the billionaire on Twitter. This discount is valid only until December 31st.

Banner advertising Bitcoin acceptance and the Elektra discount. Source: Elektra.

Customers will have the option to use Bitcoin for purchase at Elektra’s physical and online stores, as well, according to its website. Bitpay, a U.S-based cryptocurrency payment service provider, will process BTC transactions.

Salinas is an avid bitcoin advocate. He said in June, “I recommend the use of bitcoin,” adding that he and his bank “are working to be the first bank in Mexico to accept bitcoin.” His bank, Banco Azteca, operates in Mexico, Panama, Guatemala, Honduras, and Peru. The bank also operates in El Salvador which made bitcoin legal tender in September, along with the U.S. dollars. The billionaire reiterated in November, “Buy bitcoin right now.”

Alejandro Diaz de Leon from the Bank of Mexico has cautioned against bitcoin. He said that cryptocurrency was a risky investment, and that its volatility makes it an inefficient store of value.

Do you have any thoughts about Grupo Elektra accepting cryptocurrency? Comment below.

Kevin Helms

Kevin is a graduate of Austrian Economics. He discovered Bitcoin in 2011, and has been an advocate ever since. He is interested in Bitcoin security and open-source software, network effects, and the intersection of cryptography and economics.

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