Andrew Tate on Why He Will Never Launch His Own Cryptocurrency

24.02.2024

Andrew Tate is a controversial public figure known for his varied career and polarizing online presence. Initially gaining fame as a professional kickboxer, Tate is a four-time world champion in kickboxing, which laid the foundation for his public persona. After his kickboxing career, he ventured into business, accumulating wealth through various endeavors, including casinos, digital products, and an online membership site known as “Hustler’s University,” where he offers advice on making money online.

Tate also appeared on the British reality television show “Big Brother” in 2016, but his stint was short-lived due to the emergence of a video showing him hitting a woman with a belt, which he claims was consensual. This incident marked the beginning of his controversial status in the public eye.

Beyond his business ventures, Andrew Tate has become increasingly well-known for his presence on social media, where he shares his opinions on wealth, success, masculinity, and societal issues. His views, often seen as misogynistic and divisive, have sparked significant debate and criticism, leading to his ban from several major social media platforms.

Despite (or perhaps because of) his controversial opinions, Tate has amassed a significant following, with many supporters finding value in his discussions on personal responsibility, financial independence, and self-improvement. However, his critics argue that his rhetoric is harmful, promoting toxic masculinity and misinformation.

In a recent interview, Tate, who has admitted to owning Bitcoin (and allegedly has had several crypto hardware wallets confiscated by Romanian police from his home in Bucharest), was asked by Rob Moore to share his thoughts on crypto.

On the Crypto Community on Twitter

Tate pulls no punches when discussing the cryptocurrency community, especially those active on Twitter, dismissing them as not contributing positively to society despite potentially making significant money.

Direct Quote: “I’m never going to launch a crypto. I just like to fuck with crypto Twitter because crypto Twitter is full of the biggest degenerate losers on the planet.“

On Launching His Own Cryptocurrency

Tate expresses clear opposition to launching his own cryptocurrency, citing ethical concerns and a disdain for the speculative nature of crypto gains.

Direct Quote: “I will never launch a coin. I will never sell out my fans. We have the real world, which will teach you how to make money for real. We have the War Room, which will give you the masculine brotherhood you need to resist oppression. That is it.“

On the Nature of Crypto Investments

Despite acknowledging his own financial success within the cryptocurrency market, Tate criticizes the lack of personal and societal growth stemming from crypto investments.

Direct Quote: “Crypto is the only scenario I can think of where you can make a whole bunch of money while benefiting society zero.“

On Crypto Nerds

Tate extends his critique to the broader culture of cryptocurrency and the behavior of its influencers, while also reflecting on the superficial nature of wealth in the crypto space.

Direct Quotes:

“Imagine I became bitcoin.eth. Putting up a Bitcoin symbol. I’m a yeah, I’m a Bitcoin maximalist. That’s you, that’s your personality, that’s everything you are.“
“Crypto Twitter is full of losers. Such losers. I would argue we could line up 10,000 of them here on the street, and I would face them all in Mortal Kombat one by one.“
“The best thing a crypto dork could do if he made money would be invest in himself because he’s a nerd with money now.“

In an interview with Anthony Pompliano in 2022, Tate shared his insights on Bitcoin, emphasizing its value as a means to truly own and control one’s money. Highlighting the challenges of dealing with traditional banking systems, Tate recounted his personal experience of transferring $900,000 to Qatar for a property purchase. He described the process as a bureaucratic nightmare that led to him being flagged at airports for about a year, illustrating the inefficiencies and privacy concerns associated with conventional bank transfers.

Tate contrasted this experience with the ease of using Bitcoin, noting that cryptocurrency solves a multitude of problems associated with traditional financial systems. He expressed a lack of trust in banks and even in the stability of real estate as an investment, citing government overreach as a significant concern. According to Tate, the fear of government confiscation has led him to reconsider property investments in countries like Romania and Russia, where he owns real estate.

Expressing a broader mistrust of government intentions, especially in light of actions taken during the COVID-19 pandemic, Tate argued that people should be more concerned about government overreach than the virus itself. He criticized the public’s focus on divisive issues, suggesting that it distracts from more significant threats to personal freedom and control over one’s assets.

Tate also reflected on the cryptocurrency market’s volatility, specifically mentioning the Bitcoin crash at the onset of the pandemic when its value plummeted to $5,400. Despite widespread pessimism at the time, Tate was confident in Bitcoin’s recovery and advised investing in it. He shared that he invested $600,000 in Bitcoin when it was undervalued, which significantly appreciated in value, underscoring his belief in cryptocurrency as a resilient asset.