Andrew Tait Announces Investment in Bitcoin
Former world kickboxing champion and controversial internet celebrity Andrew Tait has announced that he will invest more than $100 million in Bitcoin, abandoning fiat currency completely.
Tait’s announcement coincides with the recent rise in Bitcoin prices, which have surpassed the $66,000 mark, following some improvement in U.S. inflation data. This positive market sentiment, coupled with Tait’s distrust of traditional financial institutions, appears to have solidified his decision to go all-in on the leading cryptocurrency.

Andrew Tait's post on social media platform X
In a series of posts on social media platform X, Tate expressed his disillusionment with the traditional banking system, announcing that he was "completely abandoning fiat currency" and "investing over $100 million into Bitcoin." He harshly criticized fiat currency as "Ponzi scheme cash" and that democracies are "corrupted" by it.

Bitcoin’s recovery draws industry attention
Bitcoin’s recent 7% rise, breaking through the $66,000 resistance level, has attracted the attention of industry experts. The co-founder of Glassnode, an on-chain analysis company, attributed the breakthrough to lower-than-expected U.S. inflation data and weak retail sales. These factors may prompt the Federal Reserve to adopt a more “dovish” monetary policy, boosting confidence in the cryptocurrency market.

Glassnode’s co-founder predicts that Bitcoin will break further price milestones, possibly reaching targets of $69,000 and $84,000. However, the liquidity heat map shows that there are important areas between $64,000, $65,500, and $67,000 to $68,000 where volatility may surge.

Tate's announcement comes at a critical time as he faces legal action in Romania. Authorities have seized millions of dollars worth of assets, including 21 bitcoins worth $560,000, luxury cars and real estate. The charges Tate faces are serious, involving allegations of human trafficking and rape.

Despite the legal controversy, Tate has maintained influence in cryptocurrency circles through his compelling views and lavish lifestyle. His intention to “go boating” with his Bitcoin investment has generated speculation and curiosity. Industry observers will be closely watching Tate’s actions and their potential impact on market dynamics.