Andrew Tate, the former kickboxing star and influential figure, has revealed his favorite investment assets for 2024. Despite his aggressive persona, he has shown support for cryptocurrencies, particularly Bitcoin (BTC) and Ethereum (ETH). Tate has also dabbled in meme coins with the launch of Daddy Tate (DADDY), although it has struggled to gain traction. Interestingly, he has also purchased a Madonna-themed token with the intention of crashing the Solana (SOL) network. However, recent rumors of a “huge case” and a decline in stablecoin volume have cast doubt on the need for external intervention to crash the blockchain. Despite the challenges, the SOL token has continued to perform well, especially after VanEck’s plans to establish a fund became public.
Bitcoin (BTC) holds a special place in Tate’s investment strategy, and he has been vocal about his bullish outlook on the cryptocurrency. In mid-May, he announced his decision to abandon fiat currencies in favor of cryptocurrencies, including an investment of $100 million in BTC. However, Bitcoin’s recent downturn may have resulted in significant unrealized losses for Tate, although it is uncertain if he followed through with the massive purchase.
Similarly, Tate expressed optimism about Ethereum (ETH) in May, stating that he would call his audience “losers” if ETH reached $4,000. This threat was a repeat of a previous one he made in March regarding Bitcoin’s price. Although Ethereum did surpass $4,000 earlier this year, it has since experienced a decline, with the current price standing at $3,431.81.
In addition to cryptocurrencies, Tate has invested in GameStop (GME), following in the footsteps of RFK Jr. after Keith Gill’s return. Tate views the meme stock mania as a form of resistance against what he refers to as the “Matrix.” However, it remains uncertain whether maintaining positions in GameStop or AMC Entertainment (AMC) is a wise move for the remainder of 2024. Tate claims to have previously invested $6 million in GME and recently purchased an additional $100,000 of the stock, although he has also acknowledged losing a significant amount of money on GameStop.
Please note that this article does not constitute investment advice, and investing always carries risks.
