Not long after he touted Bitcoin (BTC) as the only acceptable monetary and investment choice, social media personality and former professional kickboxer Andrew Tate announced he would completely abandon fiat money and purchase more than $100 million worth of the maiden cryptocurrency.
Specifically, Tate voiced his disillusionment with traditional banks, their financial practices, and what he perceives as fraudulent schemes, announcing his intention to transition entirely from fiat currency to Bitcoin and plans to invest over $100 million into BTC, as shared in his X post on May 15.
As the popular influencer further explained, he hasn’t done this yet because he actually had “more crypto than fiat” in his possession, but added that “I think I’ll just leave fiat completely,” which he earlier referred to as a “fiat ponzi scam cash that you self enslave to earn.”
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Indeed, many know Tate as a big fan of the flagship decentralized finance (DeFi) asset, having declared in late April the end of the United States dollar, along with real estate and many other investments, which the government might take away from their holders, leaving Bitcoin as the only option.
On top of that, he had indicated plans to buy $10 million worth of Bitcoin, adding up to the ‘Top G’s’ estimated net wealth in the range between $4 million and $12 million, most of which comes from the cars that he owns together with his brother Tristan Tate, as Finbold reported on April 3.
Additionally, the former kickboxer has claimed to have earned around $85 million from “Defi land” during the previous bull run, as well as stated that he purchased his first Bitcoin in 2018 and has been buying some “every single week without fail” ever since (which means even when he was in jail in Romania).
Meanwhile, the price of the largest asset in the crypto market at press time stood at $66,179, marking a recovery in the amount of 6.43% in the last 24 hours, adding up to the weekly advance of 8.27% and accumulating a 4% increase on its monthly chart, as per data on May 16.
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