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Michael Burry, a hedge fund manager known for predicting the 2008 financial crisis, said that he has never shorted any cryptocurrency. He further warned that the current bubble is the biggest bubble.
Michael Burry on bubbles and shorting cryptocurrencies
Michael Burry, a well-known investor and founder of the private investment company Scion Asset Management, confirmed on Twitter that he has never shorted cryptocurrencies.
Burry is best known for being the first investor to foresee and profit from the US subprime mortgage crisis that occurred between 2007 and 2010. He was introduced in the book The Big Short by Michael Lewis about the mortgage crisis, which was adapted into a movie starring Christian Bale.
He wrote on Twitter on Sunday:
I have never short any cryptocurrency. This is my third bubble and the biggest bubble. I learned a thing or two. On the other hand, the 30-year treasury bond…
In October, he said: “I believe that cryptocurrency is in a bubble.” However, he clarified in an interview with CNBC that he Not short Despite posting a tweet about how to short cryptocurrencies.
“How do you short cryptocurrencies? Do you have to make sure to borrow money? Is there a short-term rebate? Can this position be squeezed and called? In this turbulent situation, I tend to think that it is better not to go short, but I am here. Thinking aloud,” he wrote.
June, Bury warn “The mother of all crashes.” He described at the time, “When cryptocurrencies fall from trillions of dollars, or meme stocks fall from tens of billions of dollars, the losses on the street will be close to the size of the country. History has not changed.”
Big short investors are not the only ones predicting devastating bubbles.Earlier this month, billionaire investor Stan Druckenmiller said Everything is in a bubble“Cryptocurrencies, meme stocks, art, wine, stocks… this bubble is everywhere, every asset on the planet,” he warned.
At the same time, rich dad poor dad writer Robert Kiyosaki has repeatedly warned of impending collapse. At the end of October, he Expected A huge crash is coming, and a new depression will follow. He advises investors to buy gold, silver and bitcoin.
What do you think of Michael Bury’s comments? Please let us know in the comments section below.
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