sheetsadam1 — 1 month ago(February 05, 2026 11:09 PM)

Anyone who was retarded enough to invest in craptocurrency deserves to lose every penny
https://www.nbcnews.com/business/markets/crypto-crash-bitcoin-gold-rcna257556
Bitcoin’s plunge accelerated on Thursday, as the world’s largest cryptocurrency fell more than 12% to below $64,000 in late afternoon trading, a level not seen since October 2024. The moves underscore how vulnerable cryptocurrencies can be when investors turn away from risk.
The sharp drop was a reversal from late last year, when bitcoin surged to record highs above $125,000 a coin. In the four months since then, the digital currency has lost nearly half its value.
Since that high on Oct. 6, bitcoin has lost more than $1.2 trillion worth of value, according to CoinMarketCap.
The selling comes as investors pull back from riskier assets like crypto and tech stocks, and rotate into traditional “safe haven” assets like gold.
Since bitcoin’s October peak, the gap between its performance and gold’s has widened significantly. As of Thursday afternoon, the value of bitcoin had fallen 35% since February 2025, while the value of gold has soared nearly 70%.
This year alone, gold is up more than 11% while bitcoin is down more than 26%.
As crypto plummets, the U.S. dollar is also feeling the heat from wary investors who are rethinking where they put their assets.
For the greenback, the downward pressure stems from renewed trade and tariff threats from the Trump administration and overall uncertainty generated by tensions with U.S. allies over Greenland, the protests in Iran and the capture of Venezuela’s president early in January.
As they pull out of crypto, investors have sought safer assets in Treasury bonds, European and Asian stocks and precious metals like silver and gold.
The bitcoin crash is especially worrying for the rest of the crypto industry. Bitcoin has long been marketed as “digital gold,” essentially the most reliable crypto asset and one capable of holding its value in periods of heightened uncertainty, much like physical gold.
Analysts at Citi wrote in a note to clients this week that the flow of money into bitcoin exchange traded funds, or ETFs, has dried up as prices continue to slide. These investments helped fuel bitcoin’s rise last year.
They also noted that bitcoin has now fallen below the average entry price for many U.S. spot bitcoin ETF investors, which Citi estimated at about $81,600.
The pullback is also proving painful for companies and investors that leaned heavily into bitcoin during the rally.
Shares of Strategy, the largest corporate holder of bitcoin, fell over 17% on Thursday, as bitcoin sank to levels below what the company paid on average for its massive crypto stockpile.
Strategy has spent years building its bitcoin position and now holds more than 713,000 coins, having paid an average of roughly $76,000 per bitcoin, according to its latest regulatory filing.
But now, with bitcoin now well below that level, investors are growing uneasy about how much room there is for further losses.
That pressure is rippling across the broader crypto ecosystem, hitting businesses closely tied to cryptocurrency trading and prices.
Falling along with bitcoin Thursday were shares of Coinbase, one of the largest U.S. crypto exchanges; Circle, a crypto-focused financial firm and stablecoin issuer; and the retail trading platform Robinhood.
Bitcoin’s plunge means “sickening scenarios have now come within reach," wrote Michael Burry, an investor who shorted the housing market before the 2008 financial crisis and who was a subject of the film “The Big Short."
Burry also warned in a Substack post that bitcoin’s sell-off could turn into a “death spiral."
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