Andrew Tate is a very polarizing figure. Banned across many Web2 social media platforms, mainly because of his comments about women’s role in society, he seems to be everywhere right now, despite being cancelled. Here is his take on crypto adoption.
Andrew Tate is estimated to be worth over $100m. He started off his career as a kickboxer with a record of 76 wins and nine losses. However, Kickboxing wasn’t where he made his true wealth. Now, Tate owns several casinos in Romania, and he has multiple investments in assets such as Bitcoin. His impressive car collection includes a $250,000 Aston Martin and his famous $3.95m Bugatti Chiron.
Tate’s online course, called “Hustle University” is a massive success, with over 50,000 students worldwide. They pay him a monthly fee of $49. That alone brings him in around $2.5 million monthly.
Andrew Tate on Crypto
Andrew Tate says he can tell you what will make you believe in crypto. “If you ever tried to send a million dollars, which I’ve done through a bank, you will see the levels of bullshit you have to go through. It’s my money that I made and I’m sending it to somebody. But I have to go through weeks of papers and questions and garbage. And it bounces back and it’s blocked, then, new pieces of paper and letters from tax authorities and interviews.
“Whereas with Bitcoin, I press two buttons, it costs me 35 cents and it’s done in three minutes. And there’s too many people with a lot of money, who are tired of banks. That’s why Bitcoin will never go to zero. Because there’s too many people with a bunch of money who do not want to be playing these games, whether they’re criminals, or if they’re legit. The banks just don’t like that I’m trying to move my money. You’re giving me questions? Fuck you. That’s why Bitcoin will never go to zero.”
Many people have speculated about how much money Tate has made with crypto trades. Tate said he bought $600,000 of Bitcoin when it was worth $5,400. That would give him 111.11 Bitcoins. By November of 2021, Bitcoin reached its all-time high of $60,789. This would make Tate’s $600,000 of Bitcoin worth nearly $6.8m. Assuming he had the right exit strategy, it looks like Tate really did come out on top using crypto.
Andrew Tate on NFTs
Tate is not a fan of NFTs. “I will not have sons who are busy buying NFTs and say ‘Oh, I made a little bit money’ and they have skinny little arms and go to crypto conventions. And be dorks. I won’t have nerds as children. I refuse to have a nerd carry the name Tate. If my son is a nerd, one of us has to die. Him or me. And I’ll challenge him to mortal combat. Jesus Christ.”
Getting Around Bans
Andrew Tate has been cancelled from most Web2 platforms. However, there is an alternative – Rumble. When he moved over to Rumble, after being cancelled on YouTube, be brought hundreds of thousands of viewers with him, and pushed the Rumble app to the number one spot. It also made the stock associated with Rumble, CVFI, go gangbusters. So why is he outputting so much content to keep himself in front of the world?
Despite being blanket-banned on multiple platforms, Andrew Tate keeps popping up on social media feeds. It might be because he is saying exaggeratedly ridiculous things to publicize his Hustle University venture. He is definitely on an absolute rampage of social media marketing. He is going on podcast after podcast, sharing hot take, after a hot take.
Hustler’s University works like a pyramid scheme. Once a person signs up for his course, they can make money by getting other people to join his course through an affiliate link. And they then get more people to join. And so on. The course recommends that the best way to promote it is by spamming his content all over the internet.
Not everyone who has ‘studied’ there is a fan. One student there says it is not worth the money.
“I signed up about a month ago. There are a lot of topics that you can learn from which is good. I chose crypto because I trade, so I’ll be able to judge if the information is good or not. And it’s pretty bad. A lot of the lessons are just text that you have to read through. There are videos, but the videos are just screen recordings with a low-quality voiceover from the ‘professors.’ The information in the videos could be way more concise. In my opinion, I think if you are new to trading, I’d be really really confused after taking this course.”
Here is Tate on the hustle.
The Bans and Web3
Blockchain enthusiast and influencer Vic Laranja says that the reason why Andrew Tate was banned from every single social media platform at once is because of centralization. “Every platform that we use today is a dictatorship. If these companies or their billionaire friends see you as a threat, that’s it. You’re gone. And in Tate’s case, he was such a massive threat that these giants colluded together to erase it. The only solution is Web3. In fact, the biggest venture capitalists in all of crypto, agree that Web3 is the only way we can take power back from these giants. Platforms that are built on a decentralized blockchain instead of a server will allow users to own their profile data and if that user needs to be banned, the community will do so with a vote.”
Tate on Making Millions in Crypto
While Tate has acknowledged that he has made a fortune on crypto markets, he says he doesn’t necessarily think this is a good thing for everyone.
“I was talking to a young guy the other day. When he was 22, he caught a crypto pump and made of $4 million in the last Bull Run. And now all the coins have gone down. Whatever, he sold some, now he has $1.5. He says, ‘Yeah so I am waiting for the next pump!’ I said, the problem with you, bro, is that you are ruined for life. You are 22, you made easy money, and you think that you don’t ever have to do any serious work.
“A crypto pump doesn’t teach you anything. He didn’t learn sales, marketing, staff management, stress tolerance, anything. Now he’s just gambling on shitcoins waiting for the next one to pop. He’s pointless, his ass is never going to want to get a real job and he doesn’t have any skills.”
Tate is not a fan of what he calls ‘crypto people.’ “Bitcoin is never going to save you, no matter how low or high it goes. But it’s amazing how heavily people are leveraged into this crypto stuff. So if you get to a point in your life where you have to sit and look at a number on the screen? And pray it goes off? That’s ridiculous because you’ve removed your own control and your own power from your own life. There’s a degree of luck involved at all things. I’m not the kind of guy who wakes up and goes, ‘I need to check this number because it’s not high. I’m in trouble.’ That’s ridiculous.”
Andrew Tate on Bear Markets
Crypto seems to be fine in Tate’s opinion as long as it benefits Tate himself. He thinks that market crashes are an opportunity. “Of course, people start saying, ‘this is the end of Bitcoin!’ People do not seem to yet understand that crisis and opportunity are the same thing. In fact, in Japanese, they are the same word. And what most people are doing is going through life seeing a crisis. You are seeing the world get destroyed. You’re seeing Corona, you’re seeing the American election be stolen. You’re seeing all these bad things happen and you do not identify any opportunity in these circumstances. You sit there and think, ‘Oh, well I will keep doing my job. I’ll keep working at Starbucks. And maybe one day when my ship comes in, I’ll make some money. Never!”
Tate does think that most of the ways money is made on the planet is a Ponzi scheme. “I think stocks are a Ponzi scheme. And when I say Ponzi, I mean that if you’re in early you make a bunch of money. And if you’re in late you get rekt. Money doesn’t come from thin air. Money doesn’t come from the sky. So a lot of people ask me about crypto: Hey, what do you do with this coin? This coin?
“Most people don’t understand that the crypto market is player versus player. And it’s funny because these new crypto coins launch, and they start these telegram groups. These communities all are made up of the people who have bought the coin. They are in this community and they’re all acting like they are friends.
“You’re not friends. If you bought it at $1, you want to sell it at a profit of $10. Someone has to buy it off you. It doesn’t just come from the sky. You’re selling it for more than you bought it for. There’s always going to be a guy who bought the top, and it never goes up anymore. It’s all Ponzi scheme.”
A Fan of Crypto
At the end of the day, Tate says he is a fan of crypto. “I love crypto. And I love a crypto pump. Everybody does. When I say detrimental things about the crypto community, the point I’m trying to make is that many people out here – especially men – are not prepared for wealth. And when I say they’re not prepared for wealth, they haven’t been through the struggle that’s going to allow them to become a man of caliber before they find money.
“They haven’t done the running to a fish stall, running to the gym, getting punched in the face for money. They’ve never done that. So what happens when a 19-year-old kid catches a crypto pump on junk like Shiba? Now he’s a millionaire. Fine. This was blind luck. He’s never going to go out there and get a job. The only thing he could ever think to do is to just try and get another pump. Now he’s effectively a gambler for the rest of his life.”
Whatever you think about Andrew Tate, he does raise some interesting questions that we all should have about big tech, crypto trading and ponzi schemes. And who doesn’t love a polarizing person pushing our buttons?
Got something to say about Andrew Tate or anything else? Write to us or join the discussion in our Telegram channel. You can also catch us on Tik Tok, Facebook, or Twitter.
The information provided in independent research represents the author’s view and does not constitute investment, trading, or financial advice. BeInCrypto doesn’t recommend buying, selling, trading, holding, or investing in any cryptocurrencies