Andrew Tate’s hot takes about money and women provoke varied reactions, usually from one extreme to the other. Lately, everyone’s been talking about the TikTok phenomenon. He has several businesses, with some being labeled as “scams,” and he’s mastered the social media algorithm. Tate has recently shared his perspective on cryptocurrencies and why they’re perfect to hide your assets from the government.
So, what is Bitcoin?
In 2008, Satoshi Nakamoto, an inventor whose identity is still unknown, presented the project for the first cryptocurrency, Bitcoin. A little more than two months later, the system was operational.
Bitcoin was invented to carry out transactions without the intermediation of banks. In cryptocurrency systems, the databases of individual banks are replaced by a public ledger or blockchain. It’s a record of all trades updated minute by minute by a network of thousands of anonymous contributors worldwide.
Since then, hundreds of other cryptocurrencies have been developed. Ten years after its launch, the market was worth more than 110 billion dollars. Hundreds of thousands of people buy and sell cryptocurrencies daily with the sole aim of profiting from their value growth. Nevertheless, they are instruments that need further development if they aspire to become actual monetary systems.
Andrew Tate: The Pomp Podcast
Andrew Tate appeared on Anthony Pompliano’s The Pomp Podcast , published recently, and originally recorded in May 2021. The host agreed with some of his statements, but not all. That’s probably why Pompliano kept this interview hidden for so long, but now that it’s released, we’re going to share with you what Andrew Tate had to say.
Tate shared his controversial thoughts on various topics including money, cryptocurrencies, and Bitcoin. Tate told the host he asked many questions when he started researching money. His curiosity guided him to information about cryptocurrency and Bitcoin. Through his research, he became frustrated that he didn’t have enough money.
Tate realized he could use the beautiful women he knew to launch his first webcam business. He refers to them as an “asset class” on the podcast. Tate said, “I have like eight girlfriends.” The first two women he employed he knew in a romantic capacity, and they began the business in England. While he traveled as a kickboxer, he recruited more women to work for him. His brother, Tristan Tate, helped him grow the business even further.
On the podcast, Tate says:
“the first time I ever became a millionaire was with a webcam studio […] when I retired from fighting, it’s because I found this little hustle of getting very beautiful girls to sit on these laptops and talk to men on the internet, and I grew this little empire.”
Tate went on to discuss cryptocurrencies; he views them as a hedge against inflation. His interest and use of Bitcoin is also another way for him to evade the government.
Tate shares with Pompliano:
“I don’t want cash. I want something else. Give me a resource. How can I get a resource that the government can’t take? Bitcoin.”
He mentions how he once had to do a bank transfer for $900,000 to purchase a property in Qatar, and there were a bunch of legal hoops he had to jump through, and he ended up on a flight list for the following year. Tate looks for ways to have immediate access to his assets and information.
Tate shared:
“So it fixes a whole bunch of problems. Cryptocurrencies? It certainly does […] I’m going full crazy Mr. Blockchain now because it’s the only time I feel like I have control over things.”
Cryptocurrencies offer him a way to protect his assets, for now. With Bitcoin, he can avoid all the scrutiny of where his money is going, and he’s in full control.
How did the Tate brothers make a profit with Bitcoin?
After the Tate brothers started their webcam modeling business, they used their profits to invest in cryptocurrencies. The webcam business earned around $600,000 a month. At its peak, 75 webcam models would strip on camera and talk to lonely men, coaxing them into sending money. The Tate brothers encouraged the women to come up with sob stories to get more money.
In the podcast Entrepreneurs in Cars with Rich Cooper , Tristan Tate mentioned that he would invest $100,000-$200,000 at once in a cryptocurrency. He also bought Bitcoin when it was trading at $3,000 each and Solana (SOL) when it was trading at $9 each. Andrew Tate’s cryptocurrency portfolio is supposedly worth millions and members of The War Room, an exclusive online community, recommend cryptocurrencies. Members of The War Room discuss different topics such as finances, fitness, biohacking, international legal documentation, and more on Telegram channels.
What is Hustlers University 2.0?
Another source of Tate’s income is through Hustlers University 2.0, an online program that provides members with information on how to make a passive income. With over 100,000 enrolled members to date, Tate has put together a group of loyal followers to spread his gospel. One way to earn a passive income is through affiliate marketing, specifically by marketing Tate’s own Hustlers University 2.0. Through this tactic, he’s gained more fame and wealth by videos of him spreading like wildfire over social media, specifically TikTok.
The membership fee is $49.99 a month to access all the content including information about stock analysis, options plays, cryptanalysis, DeFi, E-commerce, and more. According to Tate, the teachers get paid 10,000 to 500,000 USD each month. Tate can use the profits from this online community to further grow his wealth of cryptocurrencies.
Andrew Tate: Bitcoin Enthusiast
So, in Andrew Tate’s eyes, cash is trash. The government can access your money in banks, and repossess your property if they know you own it. Tate uses cryptocurrencies as a way to avoid the government having too much control over his business and wealth. He wants to protect his assets from being taken away at any moment.
Do you invest in cryptocurrencies? Should we not trust banks, at all? Tell us your thoughts in the comments!