Big Short Investor Michael Burry Says “I Never Shorted Cryptocurrency” – Warns of Bigger Bubble – Finance Bitcoin News

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Hedge fund manager Michael Burry, famous for predicting the 2008 financial crisis, says he never sold cryptocurrency short. He further warned that the current bubble is the biggest.

Michael Burry on bubbles and cryptocurrency shorting

Renowned investor and founder of private investment firm Scion Asset Management, Michael Burry, confirmed on Twitter that he has never bypassed cryptocurrency.

Burry is best known for being the first investor to predict and profit from the subprime mortgage crisis in the United States that occurred between 2007 and 2010. He is featured in “The Big Short,” a book by Michael Lewis on the mortgage crisis, who has a movie with Christian Bale.

He tweeted on Sunday:

I have never bypassed cryptocurrency. This is my third bubble, and the biggest. I learned a thing or two. On the other hand, 30-year Treasury bills …

In October, he said, “I believe cryptocurrencies are in a bubble. However, he clarified in an interview with CNBC that he had not shorted cryptocurrencies despite tweets about how to shorten them.

“How do you run a cryptocurrency? Do you have to guarantee a loan? Is there a short discount? Can the position be tightened and recalled? In such volatile situations, I tend to think it’s best not to be short, but I’m thinking out loud here, ”he wrote.

In June, Burry warned of “the mother of all accidents”. He described at the time: “When crypto falls by trillions or stocks of memes fall by tens of billions, Main Street losses will approach the size of countries. History has not changed.

The Big Short investor isn’t the only one predicting a devastating bubble. Earlier this month, billionaire investor Stan Druckenmiller said it was all in a bubble. “Crypto, memes stocks, art, wine, stocks… This bubble is in everything, all assets on the planet,” he warned.

Meanwhile, Rich Dad Poor Dad author Robert Kiyosaki has repeatedly warned of an impending crash. At the end of October, he predicted that a giant crash was coming, followed by another depression. He recommends that investors buy gold, silver, and bitcoin.

What do you think of Michael Burry’s comments? Let us know in the comments section below.

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