Former kickboxer and American entrepreneur, Andrew Tate has shared his intentions to convert over $100 million into Bitcoin completely renouncing fiat currency.
This statement comes at a time when Bitcoin is seeing tremendous growth. In the previous day alone, it has increased by 7% and crossed the $66,000 resistance level.
On social media X, in a series of posts, Andrew Tate expressed his disillusionment towards the traditional banking system.
The recent surge in the price of Bitcoin has grabbed the attention of experts in the industry. Glassnode, an on-chain analysis company, and its co-founders have observed and this breakout was expected for a long time. They assert that recent statistics on US inflation, which was lower than anticipated, along with weaker retail sales, may influence the Federal Reserve to adopt a more "dovish" monetary policy.
These factors are deemed to have helped strengthen confidence in the crypto industry.
Additionally, according to Glassnode's co-founders, Bitcoin may hit $66,000, $69,000, and $84,000.
For Andrew Tate, this is a critical private moment, the former kickboxer looks to be involved in serious legal proceedings and the charges against him are very serious.
In this regard, the authorities have already seized numerous assets of Andrew Tate, which includes 21 Bitcoins along with luxury cars and real estate worth millions of dollars.
Tate is still quite influential in the cryptocurrency space despite his legal troubles, and he is particularly well-known for his thought-provoking viewpoints.
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