The Big Short’s Michael Burry Asked About Shorting Crypto Days Before Bitcoin Hit $ 60,000

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“The Big Short” investor Michael Burry asked for ways to bet against bitcoin just before the world’s largest cryptocurrency hit a six-month high to break through the $ 60,000 level.

“Okay, I’ve never done this before, how do you shorten a cryptocurrency,” Burry said in a tweet Wednesday. “Do you have to get a loan? Is there a short term discount? Can the position be tightened and recalled? In such volatile situations, I tend to think it’s best not to sell short, but I’m thinking out loud here. “

Bitcoin topped $ 60,000 on Friday, hitting its highest level since April 17. Investors and analysts are optimistic that US regulators could give the green light to the first Bitcoin exchange-traded fund as early as next week. Such a move would give traditional investors exposure to the crypto market, which would allow even greater acceptance of digital assets on Wall Street.

The famous investor sharply criticized cryptocurrencies, challenging their savage volatility and speculative trading activities. He had previously compared bitcoin to the 2007 real estate bubble, which he had bet against and from which he had benefited enormously.

“MSCI says there is $ 7.1 trillion in market capitalization tied to shares of companies holding cryptocurrencies. But MSCI also says only 79 out of 6,500 board members have crypto expertise. It’s, as they say, a feature, not a bug, ”he said Thursday in a now-deleted tweet.

Over the past week, Burry also called the Shiba Inu meme token “unnecessary.”

Burry was one of the first investors to call in and profit from the subprime mortgage crisis. He was portrayed in Michael Lewis’ book “The Big Short” and in the Oscar-winning film of the same name. Burry now manages around $ 340 million at Scion Asset Management.

Scion Asset Management did not immediately respond to CNBC’s request for comment.

Burry regularly deletes and makes private his Twitter account under the handle @michaeljburry. Over the past week, he reactivated his account and made it public. In his recent tweetstorm, he commented on a range of topics from taxing the wealthy to the Federal Reserve and former President Donald Trump. It emerged that Burry deleted his account again on Friday.

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