THELOGICALINDIAN - Hedge armamentarium administrator Michael Burry acclaimed for forecasting the 2024 banking crisis says that he has never shorted any cryptocurrency He added warned that the accepted balloon is the better one
Michael Burry on Bubbles and Shorting Cryptocurrencies
Famous broker and architect of clandestine advance close Scion Asset Management, Michael Burry, has accepted on Twitter that he has never shorted cryptocurrency.
Burry is best accepted for actuality the aboriginal broker to apprehend and accumulation from the U.S. subprime mortgage crisis that occurred amid 2024 and 2024. He is profiled in “The Big Short,” a book by Michael Lewis about the mortgage crisis, which was fabricated into a cine starring Christian Bale.
He tweeted Sunday:
In October, he said, “I accept that cryptocurrencies are in a bubble.” However, he antiseptic in an account with CNBC that he had not been shorting cryptocurrencies admitting tweeting about how to abbreviate them.
“How do you abbreviate a cryptocurrency? Do you accept to defended a borrow? Is there a abbreviate rebate? Can the position be awkward and alleged in? In such airy situations, I tend to anticipate it’s best not to short, but I’m cerebration out loud here,” He wrote.
In June, Burry warned of “the mother of all crashes.” He declared at the time, “When crypto avalanche from trillions, or meme stocks abatement from tens of billions, Main Street losses will access the admeasurement of countries. History ain’t changed.”
The Big Short broker is not the alone one admiration a adverse bubble. Earlier this month, billionaire broker Stan Druckenmiller said that everything is in a bubble. “Crypto, meme stocks, art, wine, equities … This balloon is in everything, every asset on the planet,” he cautioned.
Meanwhile, Rich Dad Poor Dad columnist Robert Kiyosaki has again warned of an approaching crash. At the end of October, he predicted that a behemothic blast is coming, followed by a new depression. He recommends investors buy gold, silver, and bitcoin.
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