Andrew Tate, the viral sensation, has claimed that fiat money is trash, adding that “crypto is amazing for a bunch of things” including as a hedge against inflation.
British-American Tate made the comments during an appearance on the Anthony Pompliano podcast.
His endorsement may prove to be a double-edged sword, however, as the former professional kickboxer turned lifestyle guru is surrounded by publicity and controversy in almost equal measure.
His business endeavors have been called scams (on one occasion by his business-partner brother) and his hot takes on money and women court the kind of criticism usually reserved only for Alex Jones.
Bitcoin investor Pompliano interviewed the controversial figure in May 2021, but sat on the footage for over a year. Releasing the interview this week, Pompliano thought to add the understated disclaimer, “I don’t agree with everything he says.”
Money, Bitcoin, controversy
In a story that many crypto advocates will be somewhat familiar with, Tate’s financial awakening began when he started researching money. Among the questions Tate asked were: “What is money? How do banks work? How does credit work? How does fractional reserve banking work?”
Eventually those types of questions led him to discover cryptocurrency and Bitcoin, but the path was far from direct. As Tate describes it, he initially began the discovery process mad at not having enough money, and his research only aggrieved him further.
“Then I get more mad,” said Tate, “Because I’m like woah, money’s trash and I don’t have any. Now I’m really annoyed.”
At this point however, Tate’s story takes a rather less than usual turn through a dark and twisted looking glass. His moment of financial awakening prompted the kickboxer to reassess his life and start his own business.
Beautiful women are an asset class, according to Tate
As Tate considered what avenues to pursue, his unique selling point shifted into focus – his ability to meet lots of women.
“I have like eight girlfriends,” said Tate as he told Pompliano about this “eureka” moment. Tate realized that the “beautiful women” he knew were an “asset class” he could make money from.
Tate began his first webcam business employing women he had met during his travels as a kickboxer. Beginning in England with two women he had met in a romantic capacity, Tate quickly grew the endeavor with help from his brother Tristan.
Today, that business has reallocated to Romania and employs around 75 women. They dress in lingerie and talk to lonely men on the internet encouraging the men to tip for the service. Tate and Tristan are open about the fact that they coach the women to concoct sob stories to extract larger sums. In March, when asked about the business by The Sunday Mirror, Tristan told the U.K. paper “it’s all a big scam.”
Tate as financial guru
Tate’s webcam business is not Tate’s only revenue stream. The former Big Brother contestant also owns “Hustlers University,” a business teaching people to make money.
Andrew Tate’s newfound viral status owes a lot to the marketing of this business, which includes fast cars, guns, and girls in bikinis. The result of this campaign looks something like a 14-year-old’s boyhood fantasy, aka Dan Bilzerian’s Instagram account.
Tate however, does not like the comparison between the two, as when Pompliano calls him “The Bilzerian of Eastern Europe” he immediately sets the record straight.
“Dan is more of a customer and I’m more of a pimp,” says Tate.
Hustlers University boasts 100,000 members
The recent notoriety of Tate and the claims of Hustlers University prompted “internet detective” Coffeezilla to investigate. According to Coffeezilla the business has over 100,000 members who each pay a monthly subscription fee of $50.
The basic promise of Hustler University is that Tate can coach his students to become just as filthy rich as him. It’s a well worn business model shared by other such “gurus” as Tommy Vu, John Crestani and Grant Cardone.
According to Coffeezilla, however, Tate is “far more effective, and maybe dangerous” than most.
As for the getting rich part, Coffeezilla states that much of the courses at Hustlers University teach students how to market Andrew Tate and Hustlers University. With 100,000 enrolled “students,” to call upon, Tate has an army of marketers to further push his fame and grow his wealth.
Bitcoin trouble ahead
In the 1 hour 40 minute Pompliano interview Tate shares his unique thoughts on a number of topics including money, cryptocurrency, Bitcoin, women, politics, and racism.
While Tate is quick to point to Bitcoin and cryptocurrency as an inflation hedge, he also perceives another advantage.
“I don’t want cash,” said Tate. “I want something else. Give me an asset, okay how can I get an asset the government can’t take? Bitcoin.”
Tate went on to directly ask Pompliano, “What’s the other answer? You tell me bro, maybe you know something I don’t know – is there anything else?”
As the gears visibly shift in Pompliano’s head, the Bitcoin investor changes topic, choosing not to offer financial ‘can’t touch this’ advice to the man sitting in front of him.
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