Michael Burry is considering betting on cryptocurrencies. Investor “The Big Short” asked on Twitter how he could bet against cryptocurrencies. Burry warned that DOGE’s market and speculation are likely to reach unprecedented levels.
DOGE and cryptographic alert from Michael Burry.
Michael Burry, who earned his name and fortune by betting on the 2008 housing bubble, has set himself a new goal: cryptocurrencies. In a tweet deleted this week, Burry asked:
Okay, I haven’t done it before, how can you shorten a cryptocurrency? Need to borrow? Is the position compressible and can it be called?
Burry, whose big bet against subprime mortgages was immortalized in the book and in the movie “The Big Short,” stressed that he only plans to take a stand against cryptography. He said in a tweet:
In such volatile situations, I think it’s best to go short, but here I’m thinking out loud.
Michael Burry says speculation comes first!
The head of Scion Asset Management, which regularly deletes his tweets, has recently blocked his Twitter profile from new users. He cited an army of meme-stock and crypto-fans and bots commenting on his tweets to get attention. “Crypto / Meme robots and firefighters are responding in large numbers to large promotional accounts,” Burry said. The following was as follows:
Deleting tweets is not the solution. Moving on to intimacy allows the spellings to deter them a bit. But the effort of these fake and real people is amazing. Speculation probably precedes everything in history.
The crisis analyst has repeatedly criticized cryptocurrencies this year. Take a stand against Tesla!
Michael Burry has repeatedly criticized cryptography. He described the Shiba Inu as “nonsense”, mocked the rise in the price of Dogecoin (DOGE) and warned that Bitcoin (BTC) is a “speculative bubble” fueled by massive leverage and vulnerable to pressure from the government. The fund manager also compared the excitement for Bitcoin, meme stocks and other popular cryptocurrencies to the housing boom and the mid-2000s dot-com bubble. He warned that they were “driven by a speculative passion for crazy heights where the fall would be dramatic and painful. “
Along with its commitment to housing, Burry is known to invest in GameStop and unwittingly pave the way for short-term stock cuts in January and this year’s broader fashion. Specifically, the latest update to Burry’s portfolio, He showed off Ella Musk and Cathie Wood’s Tesla shorts against Ark Invest.
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