Andrew Tate, the controversial former professional kickboxing veteran is set to go all out on Bitcoin (BTC). As he teased on his X page today, he said he is “done with the scams” and is set to buy $100 million worth of Bitcoin.
Bitcoin to the Rescue
Andrew Tate has always been a major advocate of BTC. He is also a major critic of the current financial and political world order. Despite owing some Bitcoin before now, the latest revelation shows he might have been mulling more exposure to the coin.
The latest revelation from Tate started with an acknowledgment of the sensitivity in his declaration. He tagged the current economic state as “chaotic times”, and he said he will bet on Bitcoin as he is done “with their money.”
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
To emphasize how serious he is, Andrew Tate noted that he’d prove that he made the purchase. It remains immediately unclear what the current trigger is as the latest inflation data released in the United States pegs the Consumer Price Index (CPI) at 3.4%, up by 0.3% in April.
While this inflation data was visibly lower, many economists took the figures as unreal. Monetary adjustment and banking failures in recent times have also spooked Andrew Tate.
Andrew Tate Won’t Stand Alone
Although Andrew Tate is just unveiling his plans to sever ties with the legacy system, he will not be the first in the block.
Several Bitcoin proponents have made the move with MicroStrategy Chairman Michael Saylor leading his firm to go all out on Bitcoin. The launch of spot Bitcoin ETF products has also shifted the paradigm ultimately.
Today, many banking giants like BNP Paribas and Bank of Montreal have now joined the spot Bitcoin ETF bandwagon. Should Andrew Tate ape the $100 million into BTC as planned, he will end up with about 1,512.66 BTC based on the current price of the coin at $66,108.51.