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
CFTC clarifies cryptocurrency margin rules: BTC and ETH capital deduction rate of 20%, permitting investment in the derivatives market
The U.S. Commodity Futures Trading Commission (CFTC) recently released an FAQ clarifying the rules for using cryptocurrencies as margin in derivatives markets, specifically setting capital deduction rates of 20% for Bitcoin and Ethereum and 2% for stablecoins. The pilot program will be limited to three coin types in the first three months, after which it will expand to additional cryptocurrencies and relax reporting requirements. Qualifying crypto assets may be used as margin, marking a gradual acceptance of blockchain assets within the U.S. financial system.
動區BlockTempo5m ago
Major CEX and DEX funding rates fully turned negative, BTC down 1.93%, ETH down 2.18%
On March 22, Bitcoin reported $69,275.33, down 1.93% in 24 hours; Ethereum reported $2,103.95, down 2.18%. The market is broadly bearish, with shorts dominating. Funding rates are universally negative, indicating that shorts need to pay fees to longs.
GateNews30m ago
Polymarket predicts that the probability of Bitcoin falling to $65,000 in March has increased to 49%.
Gate News, on March 22, as Bitcoin briefly dropped below $69,000, the prediction probability of "Bitcoin falls to $65,000 in March" on the Polymarket prediction market rose to 49%. Additionally, the probability of predicting Bitcoin falling to $60,000 is 16%, and the probability of predicting it rising to $80,000 is 12%.
GateNews1h ago
Bitcoin Options Signal Concern Even as ETF Outflows Remain Relatively Low
Bitcoin price (BTC) maintained a sideways trend around the 70,000 USD level during Friday's trading session, after failing to reclaim the previous 75,000 USD milestone. This movement coincides with two consecutive sessions recording net capital outflows from U.S. spot Bitcoin ETF funds, thereby reversing the trend.
TapChiBitcoin1h ago
Bitcoin Mining Difficulty Adjusts Down 7.76% to 133.79T, Creating Second-Largest Decline This Year
Bitcoin mining difficulty declined by 7.76% to 133.79 T on March 21, marking the second-largest drop this year. JPMorgan Chase analysts forecast that Bitcoin mining costs have fallen to $77,000, still above spot prices. An increasing number of mining companies are redirecting infrastructure toward AI computing power. Core Scientific plans to sell its Bitcoin holdings in 2026 to fund AI expansion, while Bitdeer has liquidated its Bitcoin position. Multiple companies are formulating diversification strategies.
GateNews1h ago
