'Big Short' Investor Michael Burry Not Shorting Bitcoin, Warns 'Cryptocurrencies Are in a Bubble'.
18 Oct 2021, 08:00
‘Big Short’ Investor Michael Burry Not Shorting Bitcoin, Warns ‘Cryptocurrencies Are in a Bubble’
Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, has confirmed that he has not been shorting cryptocurrencies, including bitcoin, despite speculations that he may have. His confirmation came after he recently asked how to short crypto.
Michael Burry Says He Is Not Shorting CryptocurrenciesFamous investor and founder of private investment firm Scion Asset Management, Michael Burry, confirmed to CNBC Friday that he has not been shorting bitcoin or other cryptocurrencies.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 “The Big Short,” a book by Michael Lewis about the mortgage crisis, which was made into a movie starring Christian Bale.He told CNBC Friday:
I’ve not been shorting cryptocurrencies at all. And I’m not now … I believe that cryptocurrencies are in a bubble and that most in it do not understand it well.