Though his belligerent stance and demeanor of an aggressive entertainer make discerning Andrew Tate’s honest investment picks difficult to gauge, several assets have emerged as his favorite throughout 2024.
The former kickboxing star has been vocal about his support for cryptocurrencies, with Bitcoin (BTC) and Ethereum (ETH) taking center stage.
Tate has also dipped his toes in meme coins with the launch of Daddy Tate (DADDY), though the cryptocurrency has, despite early success, failed to take off and has spent much of its existence on a decline.
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It is also worth pointing out that, much as is the case with many other facets of the modern world, the prominent influencer has a mixed relationship with the crypto market as he has also purchased a Madonna-themed token with the explicit goal of crashing the Solana (SOL) network.
Still, given the recent rumors of a ‘huge case’ in the making and a mysterious drop in stablecoin volume, it is doubtful whether the blockchain needs additional external help to crash. The SOL token itself has, however, continued its strong performance despite the adversity, particularly after VanEck’s plans to establish a fund became known.
Bitcoin (BTC)
Out of all the cryptocurrencies – aside perhaps from DADDY – Tate has been the most vocally bullish about Bitcoin.
Indeed, in mid-May, the influencer announced that he would be abandoning fiat currencies such as the U.S. dollar or the pound sterling in favor of cryptocurrencies. In the same X post, he claimed he would be investing $100 million in BTC – a move that may have, so far, led to substantial unrealized losses given Bitcoin’s recent downturn.
It is worth noting, however, that it is somewhat unclear whether Tate went on and made the massive purchase, given he partially reneged on the statement in a reply to himself.
Ethereum (ETH)
Also in May, Tate proved highly bullish about Ethereum’s prospects as he tweeted that he would ‘call you all losers’ – ‘you all’ being his audience – should ETH reach $4,000. Amusingly, it was a repeat of a March threat – a threat he made good on – that he would do the same should Bitcoin hit $70,000.
Finally, though Ethereum did cross above $4,000, it did so in March – well before Tate made his ETH tweet – and has since mostly been on a decline. ETH price today stands at $3,431.81.
GameStop (GME)
Finally, Andrew Tate’s trading activities are not limited solely to posh vehicles and cryptocurrencies, and he is known to have joined the likes of RFK Jr. and invested in GameStop (NYSE: GME) upon Keith Gill’s return to the scene.
Though the former kickboxing star has expressed his belief that the meme stock mania is an element of the resistance against what he calls the ‘Matrix,’ it is doubtful whether maintaining a GameStop or AMC Entertainment (NYSE: AMC) position is a good play for the rest of 2024.
Nonetheless, Tate has claimed both that he had previously invested $6 million in GME and, more recently, that he had bought another $100,000 of the stock. He has also, according to his own tweets, lost a lot of money on GameStop.
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Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
