Andrew Tate to invest 100M in Bitcoin as he makes plans to discontinue his involvement with the Fiat currency.
As per his recent announcement, Andrew Tate will invest in Bitcoin instead of fiat currency. Tate declared in a message to X that he intends to invest more than $100 million in Bitcoin.
“I have had enough of banks.” Their money is no longer mine. Scams are over,” Tate writes in his post. The depreciation of the US dollar over the previous year has garnered significant scrutiny, partially attributable to escalating inflation and interest rate increases. Given his considerable USD net worth, the outcome of Tate’s decision would be substantial.
Additionally, Tate stated in a follow-up post that his possession of a greater quantity of cryptocurrencies than fiat currency prevents him from making a final decision on this matter. However, he indicates that he may “completely abandon fiat.”
Andrew Tate, who previously criticized the notion, has recently become an outspoken advocate of cryptocurrencies. In February, the millionaire proposed that he create his currency and support it with $100 million of his funds for his adherents.
Moreover, Andrew Tate’s current cryptocurrency wallet and total Bitcoin holdings remain undisclosed. He could generate a substantial profit if he decides to increase his Bitcoin investments. Presently experiencing a price increase, the dominant cryptocurrency by market capitalization had a bullish 2024. BTC is anticipated to increase in value later this year due to the growing popularity of investing in the asset via Spot ETFs. Bitcoin is currently valued at $65,807.20.
