In a recent podcast, Andrew Tate stated that he would never start a cryptocurrency. According to him, crypto assets are the only scenario where you can make a lot of money without bringing any benefit to society.
“If you make money from the pump, you will learn nothing and will not benefit anyone. A lazy man's dream is to buy a coin and get rich when it explodes.. No work has been done and no good has been created for the universe,” Tate said.
Former athlete compared cryptocurrency trading to gambling. As Tate puts it, when one person wins, someone else is bound to lose. For example, if you buy a coin for $1 and sell it for $10, then that buyer will lose money if the price of the coin drops. Although Tate himself claims that he earned about $70 million thanks to investments in digital assets. At the same time, he is convinced that cryptocurrencies should not determine a person’s identity.
“What kind of loser are you if you make a little money from cryptocurrencies on the Internet, and then put them on your profile photo and change your nickname? People tried to convince me to invest in NFTs. And I refused because I am morally against it… I will never launch a cryptocurrency because I don’t want to make any idiots richer,” said the controversial blogger.
Note that Tate was previously charged with human trafficking, rape and creating a criminal group for the sexual exploitation of women. Tate has been banned from several social platforms for making misogynistic remarks and inciting hatred.
Last year, the blogger promised subscribers to “pump” several altcoins, although shortly before that he denied his interest in cryptocurrencies. In 2022, Tate announced that he only relies on Bitcoin and does not trust the government.