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Former professional kickboxer turned social media provocateur Andrew Tate claims he cashed out $500,000 in Bitcoin to invest in GameStop and other meme coin stocks in a bid to harass hedge funds.
“There are hedge fund managers who will wake up tomorrow morning and have $13 billion in losses if GameStop opens at current prices,” Tate said. twitter video. “That person’s entire hedge fund!”
His Reddit-inspired hypothesis is similar to this: 2021 theory Surrounding the same stocks. with Return of Growling Kitty—Internet personalities leading the movement—It seems like the meme stock craze is in full swing.
“I’m cashing out $500,000 in Bitcoin right now and I’m going all-in, maximum leverage, all-in on all these stocks,” Tate claimed. “We are losing all our money, we are bringing down Wall Street, and we are going to bring down ourselves.
“Watch me as I bring down Wall Street,” he continued. “Damn you guys. “Fuck you all.”
Tate says he doesn’t care if he loses everything. His motivation is the downfall of an unnamed hedge fund manager.
There has been a flurry of activity surrounding GME stock, with its value more than doubling in the last 24 hours. Aborted trading at least 6 times On Monday—triggering in the meantime. Liquidation of $1.4 billion According to investors who opposed the rise, bloomberg. GME is trading at $32.50 at the time of writing, compared to $10 a month ago.
The unofficial Solana meme coin, named in honor of Game Stop, recorded even more astronomical gains.
Tate then went further and exclaimed: Occupy Wall Street exercise, which is At first sparks flew. First wave of interest in meme stocks. some investors blame hedge funds Other financial institutions prepared for the 2008 financial crisis. Investing in stocks that will cause losses for the hedge fund is also a way to retaliate.
Tate gave a lengthy speech on Twitter, touting GameStop stock and touting his WallStreetBets pledge to never sell his stock, regardless of price.
“This is about pissing off some idiot somewhere on Wall Street with vaccines and a little Johnson,” Tate exclaimed. another video.
This is all coming In the influencer’s trial He was charged with human trafficking and rape. A few weeks ago, a Romanian court said Tate’s trial could officially proceed 10 months after he and his brother were indicted. Same court a few days ago extended limits Tate is prevented from leaving Romania for the next 60 days. A trial date has not yet been set.
Edited by Ryan Ozawa.