16 May

Shortly after expressing his strong endorsement of Bitcoin (BTC) as the sole viable monetary and investment option, Andrew Tate, a well-known social media figure and former professional kickboxer, declared his decision to fully abandon traditional fiat currency. Tate announced his intention to invest over $100 million into Bitcoin, emphasizing his dissatisfaction with conventional banking systems, their financial practices, and what he perceives as fraudulent activities.

Tate elaborated on his disillusionment with fiat currency in a recent post on X, stating that he plans to transition entirely from fiat money to Bitcoin. He mentioned that he hadn't executed this plan yet because he already held more cryptocurrency than fiat currency. However, he expressed his intention to completely divest from fiat currency, which he previously described as a "fiat ponzi scam cash" that entraps individuals into earning it.

Andrew Tate's lessons on Twitter

Tate, who predicted in late April that the US dollar will vanish along with real estate and numerous other investments that the government might seize from their holders, leaving only Bitcoin, is well-known for being a major supporter of the main decentralized finance (DeFi) asset.

The "Top G's" estimated net worth is between $4 million and $12 million, the most of which comes from the vehicles he and his brother Tristan Tate possess. In addition, he had stated that he intended to purchase $10 million worth of Bitcoin.

Moreover, the former kickboxer has asserted that he amassed approximately $85 million from investments in decentralized finance (DeFi) during the previous bull market. He also disclosed that he made his initial Bitcoin purchase in 2018 and has continued to buy more "every single week without fail," even during periods such as his time spent in jail in Romania.

At the time of reporting, the price of the largest cryptocurrency in the market stood at $66,179, reflecting a 6.43% recovery over the past 24 hours. This marks a weekly gain of 8.27% and a monthly increase of 4%, according to data as of May 16th. 

May 2024, Cryptoniteuae

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