Andrew Tate’s stance on the global cryptocurrency market and business has long been a source of speculation among internet users. It is worth noting that Tate developed a fascination with cryptocurrencies in 2021, driving him to start Hustler’s University, an institution that advises its students on when to purchase and sell crypto assets based on daily analysis.
Two months after his widely publicized arrest in Romania in December 2022, the local police seized close to $500,000 in Bitcoin from the crypto wallets of Andrew Tate and his brother Tristan Tate.
Finbold reported that just before his arrest, Tate appeared on Anthony Pompliano’s popular Bitcoin podcast, where he praised the flagship decentralized finance (DeFi) asset as eliminating the drawbacks of flat transactions.
Andrew Tate claimed on Twitter that he received a whopping $30 million offer to promote a crypto to his massive fanbase. ‘Cobra’ claims to have turned down the offer, refusing to scam his loyal followers:
“There are 2.5 million people on my email list. I have been offered 30,000,000 to email out a crypto and pump it. I said no. I refuse to scam. Refuse. I do not sell my soul like everybody else did.”
Andrew Tate has since made a complete about-face on the topic of cryptocurrency. Criminal attorney Bruce Rivers examined Tate’s derogatory comments about his businesses earlier this year, where he reportedly told men to “mine Bitcoin with p**sy and t**ties.”:
“What you do is actually turn these things into is bitcoin. So effectively, what a webcam company is doing is mining bitcoin…. Instead of mining bitcoing the traditional way with huge electricity expenses and massively expensive equipment, you mine bitcoins with some p**sy and t**ties.”
Catch Andrew Tate’s comments below (22:30):
Andrew Tate once claimed that the Crypto market is a “Ponzi” scheme
Despite the fact that some people have employed cryptocurrency in Ponzi schemes and other forms of fraud, the technology behind cryptocurrencies is not inherently fraudulent.
Cryptocurrencies like everything else have value based on supply and demand, and their prices can change for many reasons, such as market sentiment, adoption, and government regulation.
In an unidentified video on YouTube, Andrew Tate once claimed that the Crypto market is essentially a “Ponzi” scheme:
“Most people don’t understand that the Crypto market is player vs. player. If you bought it at $1, and you want to sell it at a profit of $10, someone has to buy it off you. There’s always going to be a guy who bought the top and it never goes up anymore. There’s X amount of people at the top who get wrecked so that the people at the bottom can make money. It’s a Ponzi.”
Catch Tate’s comments below: