Andrew Tate recently shared his perspective on Bitcoin’s future, suggesting that the real BTC bull run hasn’t begun yet. As Bitcoin surged to an all-time high (ATH) of $89,229, driven by strong buying momentum, Tate emphasized that this rally is just the beginning. He argued that Bitcoin’s true value lies in its deflationary nature, which he believes the broader market has yet to fully grasp.
Andrew Tate Says BTC True Value Is Still Untapped, Rally to Infinity?
In a recent post, Andrew Tate expressed that the real BTC bull run will commence when holders view fiat currency as “junk” and see no incentive to sell their holdings. Tate argues that Bitcoin’s deflationary design means that its purchasing power will increase over time as fiat currencies lose value.
More so, the Bitcoin advocate believes this will eventually lead to a “hold forever” mindset among investors, driving Bitcoin price to “infinity.”
Andrew Tate insisted,
“Prices of everything in the world are going DOWN vs BTC. So why not hold? It’s deflationary. You can’t sell BTC for other investments as they ALL underperform vs BTC.”
Tate also noted that as Bitcoin’s value appreciates, the prices of traditional assets such as real estate are decreasing. According to Andrew Tate, when the average holder fully realizes this potential, Bitcoin bull run will accelerate beyond current predictions.
BTC Reaches New ATH as Institutional Interest Grows
Andrew Tate commentary comes as Bitcoin achieved a new ATH of $89,229, experiencing an 11% rise in the last 24 hours. This increase has been attributed to strong buying momentum, reflecting renewed interest from both retail and institutional investors. With its market capitalization nearing $1.77 trillion, the rising demand has enhanced its appeal as a long-term investment.
Following the BTC bull run, Veteran trader Peter Brandt and investment firm Bernstein both project that the crypto price could hit $200,000 amid potential pro-crypto regulatory developments. The optimism around Bitcoin has been boosted by positive policy changes expected under Donald Trump’s presidency,
Similarly, Matt Hougan, Chief Investment Officer at Bitwise, shared his view that Bitcoin could eventually reach $1 million. According to Hougan, Bitcoin’s post-halving supply cuts have created a supply shock, as fewer coins enter circulation. This scarcity effect, combined with increased interest and institutional investors, continues to drive its value upward.
Moreover, MicroStrategy recently acquired an additional 27,200 BTC worth over $2 billion, bringing its total holdings to 279,420 BTC. This purchase has driven an 8% increase in MicroStrategy’s stock value.
However, despite the BTC bull reaching new highs and Andrew Tate positive outlook, economist and critic Peter Schiff expressed concerns over a proposed U.S. Bitcoin reserve. Schiff argues that the proposed efforts by the government will destabilize the dollar. Schiff warns that a Bitcoin reserve could lead to overreliance on BTC, which he deems risky.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Bitcoin News: The Tate brothers, Andrew and Tristan have been charged with human trafficking and forming an organized crime group said Romania’s Directorate for the Investigation of Organized Crime and Terrorism. As per the notice, the authority is now seeking to get hold of the accused’s crypto holding, properties, luxury cars and watches.
Also Read: Binance Top Exec Taking Exit In Europe; The FUD Is Real?
Andrew Tate Accused Of Human Trafficking
As per the press release, the Romanian authority requested to seize severable movable and immovable assets held by the accused. This includes 15 lands and buildings located within the country, 15 luxury cars, and gold.
Authorities are also seeking to confiscate Andrew Tate’s 21.08 Bitcoin holding (approx worth $565k). Bitcoin price is up by over 1% in the last 24 hours. BTC is trading at an average price of $26,853, at the press time.
Romanian Authority claimed that Andrew Tate and the other three defendants constituted a criminal group to commit human trafficking. It should be noted that its been claimed that the crime was not only committed in Romania but also in other countries like the United States Of Americ and Great Britain.
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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Crypto Market News: Popular influencer Andrew Tate lashed out at Ben.eth, the creator of PSYOP cryptocurrency. The recent popularity behind memecoins like PEPE Coin led to the creation of new tokens. However, ethical practices like linking crypto tokens with influencers could have a cascading effect on the crypto market sentiment. Meanwhile, the Bitcoin price is displaying a bearish outlook amid weak macroeconomic scenario in the United States.
Also Read: SEC Vs Coinbase: Lawyer Unfolds Coinbase’s Brilliant Game Plan
Andrew Tate, the social media sensation in the last few years, has been linked to three crypto tokens in recent times. Importantly, all the links were uncalled for and plain unethical.
Andrew Tate Crypto Links
Earlier, CoinGape reported that ben.eth had linked PSYOP memecoin with Andrew Tate as a potential buyer. Whereas YouTuber Ben Armstrong’s links to the BEN memecoin were also indirectly linked to Tate. In December 2022, Armstrong supported Tate after the infuencer’s arrest. Armstrong had earlier in the week dumped all his BEN token holdings, which coincided with a price drop in the token.
Another crypto token $SLUTS was created recently with links to Andrew Tate. The influencer said the coin was created after he joked about launching a crypto token.
When I made a joke I didnt expect a bunch of aspy idiots to launch a coin called $sluts within 15 fucking seconds?
Who are you people? dont you have lives?
How did you even see my tweet and launch it that fast.
Crypto is literally just degen autists.
— Andrew Tate (@Cobratate) May 15, 2023
Tate admitted that he holds cryptocurrency holdings worth $100 million and that he does not like to attend the crypto conferences. “I have 100m of crypto and I still don’t go to those boring conventions.” He explained that there was some sense to encourage Bitcoin and Ethereum but he would not endorse the memecoins.
Also Read: Is Bitcoin Price Really In Bull Market? Glassnode Data Suggest Otherwise
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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