Benzinga - Influencer and ex-kick boxer Andrew Tate and his brother’s Bitcoin (CRYPTO: BTC) holdings have been reportedly seized by Romanian authorities.
What Happened: Tate is currently incarcerated in Romania facing charges of human trafficking and rape.
Mateea Petrescu, a spokesperson for Andrew Tate and his brother Tristan, who were both arrested by Romanian police, told Decrypt that, in addition to the arrests, hardware wallets containing a combined 21 Bitcoins, worth approximately $467,625, were confiscated.
Petrescu said Andrew Tate's wallet contained five Bitcoin — currently valued at around $111,339 — while Tristan's wallet held 16 Bitcoin.
Authorities in Romania have seized millions of dollars worth of luxury cars, homes, and watches belonging to Tate.
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It should be noted that Tate has been outspoken about Bitcoin and its potential.
In a podcast late last year with Anthony Pompliano, Tate said “ it's one of the simplest ways to take charge of your finances and move money quickly and securely. "With Bitcoin, you can actually control and own your money," he noted. "Think about how hard it used to be to move large sums of cash around - no problem with Bitcoin!”
Tate in the same podcast also revealed returns he's earned from his crypto investments: "[I] turned $600,000 into $12 million,” he said.
Price Action: At the time of writing, BTC was trading at $22,131, up 1.60% in the last 24 hours, according to Benzinga Pro.
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