Famous for the “Big Short” film, Michael Burry has been in the news again warning investors about the risks of investing in crypto. Shiba Inu is the latest coin he has labelled as “pointless” and is also not a fan of Bitcoin. He views the crypto industry as a massive speculative bubble fueled by hype and leverage. To be honest he’s not wrong about the leverage part!
Strangely, Burry keeps deleting and reactivating his Twitter account again every few months when he wants to spread fear into the market. He also deletes every tweet, most likely to avoid any future issues with the SEC!
On June 24th, when was hovering about $30,000, Burry tweeted out “Trapped bulls often fall for the latest support”. Since then, Bitcoin has made an epic recovery and has broken past $50,000 – mainly because of ETF news and worries about inflation. Despite Burry predicting ten of the last two crashes, his crypto predictions don’t appear to be panning out well so far!
Bitcoiners, annoyed by his posts, started criticizing him on Twitter. Burry has reacted by blocking all the top Bitcoin related accounts. He’s even blocked the “Giga Chad” Michael Saylor! Burry has set his account to private so now he has to manually approve every follower. Basically, he only wants followers that will stroke his ego and react to some of his nonsensical tweets.
Hopefully they won’t have to make a new film called “The Big Short Squeeze” – depicting the story of Burry getting absolutely rekt shorting the world’s fastest growing monetary network. Let’s hope Christian Bale will be interested in filming a sequel!
Some funny tweets below bashing Burry!
After seeing Michael Burry publicly short $BTC at $30k, The Big Short movie just doesn’t look as good anymore
— shaki (@shakiXBT) October 7, 2021
Michael Burry is emblematic of the problem in today’s capital markets.
He made a call. He managed the risk exceptionally poorly. He got skated onside due to persistence, not skill…
And now is is a genius risk manager who calls out the “sheeple” and the blocks the challenge.
— FOSS – #forthekids (@FossGregfoss) October 10, 2021
— Max Keiser, sr. bitcoin advisor pres. Bukele 🌋🧢 (@maxkeiser) October 10, 2021