'One Is Currently A legend.. One Is In Jail': Andrew Tate Compares Saylor And Sam Bankman-Fried's Business Strategies

Controversial kickboxer Andrew Tate compared the business strategies employed by Michael Saylor of MicroStrategy and Sam Bankman-Fried, the CEO of the now-defunct FTX exchange.

What Happened: He referred to Saylor, the proponent of Bitcoin (CRYPTO: BTC) investments, as the epitome of responsible business practices.

“Michael Saylor is a good example of someone who runs a net-benefit business,” said Tate, placing Saylor in stark contrast to Bankman-Fried, whose operations he labeled as "a good example of someone who ran a 0-benefit business."

Tate said Saylor and Bankman-Fried both “invested aggressively.” Yet, their paths diverged significantly, leading to drastically different personal and professional outcomes. “One is currently a legend, the other one is in jail."

Bankman-Fried, has been convicted on seven counts of criminal fraud brought against him, as per a recent jury verdict.

He explained Saylor and Bankman-Fried’s approaches as emblematic of two distinct business philosophies. 

"The problem with 0-benefit businesses is that it takes money from unwilling participants. It requires constant and consistent effort to trick/outsmart the funds from someone. The beauty of net-benefit businesses is that the money is given willingly, happily and consistently,” Tate tweeted.

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Why It Matters:  Earlier in September, Tate shared his anticipation over an upcoming decision from the Securities and Exchange Commission (SEC) related to the much-debated Bitcoin exchange-traded fund (ETF).

Tate said he expects the SEC’s potential approval of a Bitcoin ETF.  The SEC’s approval of a Bitcoin ETF has been a hotly contested issue.

Among those in contention are established names such as the Grayscale Bitcoin Trust, the collaborative Ark/21 Shares Bitcoin Trust, the Bitwise Bitcoin ETF Trust, the BlackRock Bitcoin ETF Trust, and others, including the VanEck Bitcoin Trust, WisdomTree Bitcoin Trust, Valkyrie Bitcoin Fund, Invesco Galaxy Bitcoin ETF, and Fidelity Wise Origin Bitcoin Trust.

Price Action: At the time of writing, BTC was trading at $38,085.44, up 2% in the last 24 hours, according to Benzinga Pro.

Image source – Shutterstock

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