In a series of social media posts on “X” (formerly known as Twitter), Tate expressed his disillusionment with the traditional banking system, declaring his intention to divest entirely from fiat currency and invest over 100 million into Bitcoin (BTC).
He emphasized his dissatisfaction with banks, their currency, and perceived scams, concluding with a whimsical mention of going boating.
The recent surge in Bitcoin’s price has garnered attention from industry experts. Co-founders of Glassnode, an on-chain analysis company, noted the long-awaited breakout. They attributed this to recent data indicating lower-than-expected inflation in the United States and weaker retail sales, potentially prompting a more accommodating monetary policy from the Federal Reserve. These developments have bolstered confidence in the cryptocurrency market.
Glassnode’s co-founders also forecasted Bitcoin’s potential to reach $66,000, $69,000, and eventually $84,000.
Meanwhile, Tate faces significant legal challenges, particularly in Romania. Allegations against him include human trafficking and rape. Authorities have seized various assets, including approximately 21 Bitcoins valued at $560,000, along with luxury cars and real estate worth millions.
Despite his legal troubles, Tate still wields influence in the cryptocurrency world, primarily known for his controversial opinions and extravagant lifestyle.
