American entrepreneur and former kickboxer Andrew Tate, better known online as “Top G,” has declared his plan to swap over all of his fiat cash for Bitcoin (BTC), a cryptocurrency that has the purchasing power of one hundred million dollars.
Bitcoin has been experiencing a period of substantial gain recently, with a 7% rise in the previous 24 hours and a break over the $66,000 barrier mark coinciding with this statement.
In a series of tweets published on the defunct social media platform “X,” Tate detailed his disappointment with the conventional banking system, writing: “Crypto specialists are paying notice to the recent spike in Bitcoin price.”
The on-chain analysis business Glassnode’s co-founders have noticed and said that this breakout has been anticipated for a long time. They claim that the Federal Reserve may adopt a more “dovish” stance in response to recent US inflation figures, which show lower-than-expected prices and weaker-than-expected retail sales. Market trust in cryptocurrencies has been strengthened by these reasons.
Also, according to Glassnode’s co-founders, Bitcoin might hit $66,000, $69,000, and $84,000 in the near future.
Actually, this is a very important personal time for Tate; the former kickboxer seems to be embroiled in major legal processes in Romania. Human trafficking and rape are the worst accusations.
Regarding this matter, the authorities have already confiscated a number of Tate’s assets, including real estate, luxury vehicles, and 21 Bitcoins with a combined value of $560,000.
Even though he’s been in hot water with the law, Tate is still kind of a figurehead in the cryptocurrency industry, thanks to his outspoken views and extravagant lifestyle.
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