We all know about Michael Burry as the Big Short investor that predicted the housing bubble. The guy recently confirmed that he is not shorting BTC or some other currency. This is a big deal because in the housing bubble he personally shorted the market as he was very sure of it. In this case, even though Micahel thinks crypto is in a bubble, maybe his beliefs aren’t as strong.
Michael Burry and crypto
It has been confirmed by Michael Burry himself that he is not shorting BTC. He said this upon asking on Twitter, how to short crypto. The fact that he is called the big short and is not short on crypto is a big deal. It shows that even he knows Bitcoin has the potential to rise much higher from here. His recent statements to CNBC also showed that he thinks crypto is in a bubble and most people do not understand it well. When the price of BTC was $30k, he said it was a good time to short it. But he never personally shorted it.
Burry never shorted crypto because he thinks that it is too volatile. He also has his doubts regarding the same, as there is a good chance that his position is squeezed. Michael also recently criticized the Shiba Inu token after the price of the same increased substantially in a matter of weeks. He called the entire rally pointless because of the massive supply of the token.
What happened to Micahel’s Twitter?
After Burry posted the question on how to short crypto, he asked a lot of questions like the short squeeze, secure borrow, short rebate, and more. After this tweet, his account was flooded with comments from the crypto community mocking him and his knowledge. This is why Burry deleted his tweet in just 5 minutes of posting it. Subsequently, he also deleted his account. This is why you cannot find him on Twitter right now. After he deleted his account, even Scott Melker made fun of him.
What are your thoughts on the fact that Michael Burry is not shorting BTC? And do you think this is primarily due to the manipulation where long and short positions are liquidated? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.