Andrew Tate loses 90K on a 2M purchase of Bitcoin as BTC collapses. Peter Schiff announces the crypto mania as the market goes down sharply.
Andrew Tate witnessed his Bitcoin investment go down. The influencer purchased 2M BTC at 67,000 dollars. After three hours, the price dropped to $64,000.
According to BSCNews on X, Tate lost about 4.48 percent or $90,000. This fall caught a lot of investors unawares and once again pointed to the volatility of Bitcoin.
🚨TATEWATCH: ANDREW TATE’S NEW BTC POSITION DOWN ALMOST $100,000 IN 3 HOURS. @Cobratate purchased $2,000,000 of $BTC at $67,000. In a few short hours, BTC has dropped to $64,000.
Tate is down roughly $90,000, or 4.48%.
We will continue to monitor the position. 📉 pic.twitter.com/wvPsAfTYnB
— BSCN (@BSCNews) February 5, 2026
Source: BSCNews
Schiff Declares Bitcoin Mania Dead
Peter Schiff came on X and said that it was over and that the largest financial mania ever was over.
The real story about Bitcoin isn’t its 50% decline, but that the biggest financial mania in history is likely over. What’s most amazing is how the scheme’s promoters convinced the mainstream financial media, Wall Street banks, and elected government officials to embrace it.
— Peter Schiff (@PeterSchiff) February 5, 2026
Source: PeterSchiff
Schiff has written: The true Bitcoin story is not its 50 percent fall. His critique of the mainstream adoption of Bitcoin saw promoters of Bitcoin misleading financial media and Wall Street banks.
There were also government officials, he claimed, who were duped. His remarks sparked controversy throughout crypto circles, and fans defended against his remarks.
Market Crash Hits Major Holders Hard
Bitcoin dropped to approximately 63,000 after reaching its highs of around 90,000. Tate had made his purchase inopportune.
The barrage of 2 million dollars invested left him in a lot of danger. As the prices of Bitcoin kept slipping, his accounts kept losing money, and additional large holders were under strain.
The mood in the market changed by hours, and panic replaced optimism previously. The trading volumes increased as the panic selling intensified.
The crash rekindled Bitcoin future debates. Those against it, such as Schif,f were given a new weapon, but those in favor were determined to stick to long-term conviction, despite short-term suffering.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
BTC drops below 67,000 USDT
Gate News bot message, Gate market display, BTC drops below 67,000 USDT, current price 66,987.1 USDT.
CryptoRadar3m ago
The number of Americans holding Bitcoin has surpassed gold for the first time, with BTC holding steady at $63,700 becoming the key
The Bitcoin market is consolidating at high levels, and the number of holders surpassing gold owners indicates increased recognition of it as a new store of value. The US market demand is strong but faces a key technical test, requiring a steady hold above $63,700. The flow of funds will determine the future price trend.
GateNews34m ago
Bitcoin holds steady at $67,000: Crypto concept stocks collectively decline, signaling a repeat of the 2022 market crisis
Recently, Bitcoin's price has been fluctuating around $67,500, but related crypto concept stocks have experienced a significant pullback, sparking market concerns about risk. Data shows that the stock prices of many publicly traded companies holding Bitcoin have declined, and some investors are already in unrealized losses. This situation echoes signals from the 2022 crypto market crisis, with funds flowing out of crypto ETFs and investors beginning to reduce their risk exposure. Nevertheless, publicly traded companies still hold large amounts of Bitcoin, and future development depends on increased institutional participation.
GateNews36m ago
Bitcoin rebounds and breaks through $67,000: Trump signals a de-escalation of tensions, BTC market strengthens again
Bitcoin price has returned to $67,000 amid easing expectations in the Middle East situation, with a nearly 1% increase over 24 hours. Trading volume has increased by 53%, and the total market capitalization has risen to approximately $2.33 trillion. Mainstream digital assets are also rebounding in tandem. Analysts suggest that if the Middle East conflict cools down, it could trigger a capital inflow, further driving Bitcoin higher.
GateNews41m ago
BTC Markets targets 16 trillion RWA Bitcoin, applies for Australian tokenized market license
Australian cryptocurrency exchange BTC Markets is applying for a market license to offer regulated tokenized real-world asset (RWA) trading. The exchange aims to transform into a tokenized market operator and predicts that the global tokenization market could reach $16 trillion by 2030. Dobbins pointed out that Australia could generate approximately $16.8 billion in economic benefits annually through the tokenization market and plans to promote tokenization applications in private markets and infrastructure investments.
MarketWhisper58m ago
