Summary List PlacementMichael Burry warned that bitcoin is a ‘speculative bubble.’
“The Big Short” investor grouped it with electric vehicles, SAAS, and meme stocks.
He compared the boom in those assets to the dot-com and housing bubbles.
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Bitcoin’s price has surged to unsustainable levels and buyers have taken on dangerous amounts of debt, Michael Burry cautioned in a recent tweet.
“$BTC is a speculative bubble that poses more risk than opportunity despite most of the proponents being correct in their arguments for why it is relevant at this point in history,” the investor wrote before deleting the tweet as usual.
“If you do not know how much leverage is involved in the run-up, you may not know enough to own it,” he added.
Burry is best known for his billion-dollar bet on a housing-market crash in the mid-2000s, chronicled in the book and movie “The Big Short.”