Andrew Tate Goes Bullish on Bitcoin, Plans to Invest Over $100 Million

Popular social media personality and former professional kickboxer Andrew Tate has expressed his plans to invest more than $100 million in Bitcoin. The statement which has sent mixed reactions across the crypto community garnered the attention of over 2.4 million people on X. This is particularly interesting because his decision coincides with the recent Bitcoin price growth that has seen the value of the asset trade above $66k.

Andrew Tate to Abandon Fiat and Turn to Bitcoin

In a tweet on X (formerly Twitter), the American-British businessman informed his 9.2 million followers of his intentions while expressing dissatisfaction with the USD fiat currency. According to him, he is dumping fiat completely because he is “done with banks” and their scams. Tate even stated that when he does this, he will prove that he did, probably by sharing transaction receipts on his social media accounts.

However, in a separate tweet, he noted that he hasn’t done this yet, as it is still a thought. Also, he pointed out that he currently holds more cryptocurrency than fiat, “But I think I’ll just leave fiat completely,” he said.

I know I’m not supposed to do this in chaotic times but I’m about to leave fiat completely and ape over 100M into btc.

And I’ll even prove I did it.

I’m done with the banks.

I’m done with their money.

Done with the scams.

Then I’m going boating.

— Andrew Tate (@Cobratate) May 15, 2024

Tate Embraces Cryptocurrency After Long Period of Criticism

Meanwhile, the controversial celebrity had previously been an open critic of cryptocurrency and NFTs. In September 2023, he slammed cryptocurrencies and also took shots at people who invest in NFTs. He says there is no justification for investing millions of dollars in “publicly viewable JPEG” (referring to NFTs). He even went as far as calling NFT investors “losers” with no clue about financial decisions. He predicted that people who invest in cryptocurrencies are heading towards financial disappointment.

However, in a significant turn of events, Tate has now become a proponent of Bitcoin. In an unverified video of an interview that surfaced on YouTube last year, Andrew Tate was bragging about how he uses the flagship cryptocurrency Bitcoin to evade tax. Months later, in February 2024, he shared his idea of creating his cryptocurrency and investing over $100 million in it. Even though that hasn’t come to reality yet, Tate continues to amass significant amounts of other cryptocurrencies.

If he decides to invest the aforementioned amount in Bitcoin, Tate might just earn a huge ROI as Bitcoin is predicted to climb to at least $80k as a result of the post-halving effect. It is important to know that when key figures like this in the industry go bullish on a token, the value of such a token tends to rise in the short term. At the time of writing, Bitcoin is currently changing hands at $66,328, representing a 0.08% increase in the last 24 hours. However, its 24-hour trading volume has declined by 27% to $30.9 billion within that time.