Mexican retailing and banking firm Grupo Elektra will utilize a high-speed Bitcoin network for its transactions given the bullishness of its owner on the digital token, Bitcoinik reported.

  • Grupo Elektra will use the Bitcoin lightning network, which is touted as a high-speed and low-cost platform with no transaction fees. The network is gaining popularity, with investors believing that this could prove Bitcoin as an alternative to fiat currencies.
  • The announcement was made by Chief Executive Officer Ricardo Salinas Pliego, who took to Twitter to say the Bitcoin lighting network will be available in the Elektra store network “soon.” 
  • Pliego, Mexico’s third-richest man, in November said he will invest 10% of his portfolio in Bitcoin. He is estimated to be worth $15.4 million and has been a vocal supporter of the digital token.

Twitter will also reportedly integrate the Bitcoin lighting network into its platform. ELEKTRA is up 0.012%, while BTC is up 2.43%.