Andrew Tate’s $100M Investment to Back Crypto
Social media influencer Andrew Tate caused a stir in the crypto community when he announced plans to launch his own digital coin. He claimed that he would back the project with $100 million of his personal funds and emphasized that he had no intention of selling. Tate also promised a discount for early investors from his University.com team. He urged his followers to retweet his post 50,000 times to make the proposal a reality. However, he later deleted the post, stating that it was just a joke.
Andrew Tate’s ‘Crypto Scamcoin’?
Tate’s crypto asset idea was met with ridicule by industry experts. One critic, CoffeeZilla, referred to it as a “crypto scamcoin.” CoffeeZilla shared a screenshot of Tate’s previous statement where he explicitly stated that he doesn’t endorse “shitcoins,” which are joke crypto assets with little utility. Tate responded by claiming that the crypto investigator failed to recognize his joke. Furthermore, Tate had previously distanced himself from cryptocurrencies and expressed no interest in robbing his fans through such assets.
Tate’s Contentious Relationship with Crypto
Tate’s relationship with the crypto industry has been marked by heated aggression. In a viral post, he expressed satisfaction at the loss of funds suffered by crypto investors during the bear market of 2022 and 2023. In another video, he predicted the impending bear market and its impact on the emerging industry. Despite this, the current sentiment in the crypto market is bullish, with Bitcoin reclaiming its price peg at $43,125 and experiencing positive momentum.
Hot Take: Andrew Tate’s Crypto Proposal Suffers Early Death and Draws Criticism From Industry Experts
Social media influencer Andrew Tate faced backlash and criticism after his announcement of a crypto project. Despite initial excitement, Tate’s proposal was met with skepticism and ridicule, with experts labeling it a “crypto scamcoin.” Tate’s contentious history with the crypto industry further fueled the controversy. While the market sentiment remains bullish, Tate’s foray into the crypto space has received significant pushback.
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