And I like getting cut
I get excited at the sight of my blood,
This is a double entendre.
He’s saying he’s a pain freak and likes it when he gets hurt.
Just like the adrenaline rush from cutting oneself or being cut, he gets excited when he sees his blood spilled, as in his pride attacked by other rappers and/or the media. It fuels his ambition to keep honing his rap skills.
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