{"id":8508,"date":"2021-06-20T23:54:26","date_gmt":"2021-06-20T23:54:26","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/big-short-investor-michael-burry-warns-of-mother-of-all-crashes-says-cryptos-problem-is-leverage\/"},"modified":"2021-06-20T23:54:26","modified_gmt":"2021-06-20T23:54:26","slug":"big-short-investor-michael-burry-warns-of-mother-of-all-crashes-says-cryptos-problem-is-leverage","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/big-short-investor-michael-burry-warns-of-mother-of-all-crashes-says-cryptos-problem-is-leverage\/","title":{"rendered":"\u2018Big Short\u2019 Investor Michael Burry Warns of \u2018Mother of All Crashes\u2019 \u2014 Says Crypto\u2019s Problem Is Leverage"},"content":{"rendered":"

Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, has warned of \u201cthe mother of all crashes.\u201d He further explained that the problem with cryptocurrency is the leverage.<\/strong><\/p>\n

Michael Burry Warns of Mother of All Crashes<\/h2>\n

Famous investor and founder of private investment firm Scion Asset Management, Michael Burry, shared his view last week about where he sees the markets heading.<\/p>\n

Burry is best known for being the first investor to foresee and profit from the U.S. subprime mortgage crisis that occurred between 2007 and 2010. He is profiled in \u201cThe Big Short,\u201d a book by Michael Lewis about the mortgage crisis, which was made into a movie starring Christian Bale.<\/p>\n

The Scion Asset Management founder tweeted Thursday:<\/p>\n

All hype\/speculation is doing is drawing in retail before the mother of all crashes. #FOMO Parabolas don\u2019t resolve sideways; When crypto falls from trillions, or meme stocks fall from tens of billions, Main Street losses will approach the size of countries. History ain\u2019t changed.<\/p>\n

He also commented on cryptocurrency, asserting that \u201cThe problem with crypto, as in most things, is the leverage.\u201d The famed investor further opined, \u201cIf you don\u2019t know how much leverage is in crypto, you don\u2019t know anything about crypto, no matter how much else you think you know.\u201d<\/p>\n

<\/p>\n

Burry previously said that he does not hate bitcoin but is concerned about the government coming down heavily on cryptocurrency. He warned<\/a> in February that \u201cIn an inflationary crisis, governments will move to squash competitors in the currency arena.\u201d<\/p>\n

While emphasizing, \u201cI don\u2019t hate BTC<\/a>,\u201d Burry said that in his view, \u201cthe long term future is tenuous for decentralized crypto in a world of legally violent, heartless centralized governments with lifeblood interests in monopolies on currencies.\u201d Nonetheless, he said he is not short BTC<\/a> because \u201cIn the short run anything is possible.\u201d<\/p>\n

Burry is not the only one foreseeing a crash. Last week, Rich Dad Poor Dad author Robert Kiyosaki warned<\/a> that the \u201cBiggest bubble in world history getting bigger,\u201d warning that the \u201cBiggest crash in world history\u201d is coming. The famed author expects the price of bitcoin to fall to the $24K level where he will buy some more BTC<\/a>.<\/p>\n

What do you think about Michael Burry\u2019s prediction and his view on cryptocurrency? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nMarkets and Prices, crypto problem, leverage, Main Street, michael burry, michael burry bitcoin, michael burry crashes, michael burry crypto, michael burry cryptocurrency, mother of all crashes, retail investors, Wall Street<\/p>\n","protected":false},"excerpt":{"rendered":"

Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, has warned of \u201cthe mother of all crashes.\u201d He further explained that the problem with cryptocurrency is the leverage. Michael Burry Warns of Mother of All Crashes Famous investor and founder of private investment firm Scion Asset Management, Michael Burry, shared his view…<\/p>\n","protected":false},"author":0,"featured_media":8509,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-8508","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8508"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=8508"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8508\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/8509"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=8508"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=8508"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=8508"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}