'Big Short' Investor Michael Burry Warns of 'Mother of All Crashes' – Says Crypto's Problem Is Leverage

Hedge fund manager Michael Burry, famous for predicting the 2008 financial crisis, has warned against the "mother of all crashes". He also explained that the problem with cryptocurrency is leverage. Michael Burry Warns of the Mother of All Crashes Michael Burry, the famous investor and founder of private investment firm Scion Asset Management, shared his thoughts on where he sees the markets heading last week. Burry is best known as the first investor to anticipate and profit from the US subprime mortgage crisis of 2007 and 2010. It is featured in Michael Lewis' book 'The Big Short' about the mortgage crisis that has been made into a movie. Starring Christian Bale. The founder of Scion Asset Management tweeted on Thursday: All the hoax/speculation is pulling retail before the mother of all crashes. #FOMO Parabolas do not resolve sideways; When crypto drops by trillions or meme stocks drop by tens of billions, Main Street's losses will approach the size of countries. The date has not changed. He also commented on cryptocurrency, claiming that “the problem with crypto, as with most things, is leverage.” The famous investor continued by saying, “If you don't know how much crypto leverage is, you don't know anything about crypto no matter how much you think you know.” Burry has said before that he doesn't hate bitcoin, but is concerned about the government's emphasis on cryptocurrency. He warned in February that "in an inflationary crisis, governments will step in to crush rivals in the currency arena". Emphasizing "I don't hate BTC," Burry said he believes "the long-term future for decentralized crypto is tenuous in a world of legally violent, heartless central governments with lifeblood interests in currency monopolies." He said he still doesn't have a short BTC because "anything is possible in the short term". Burry is not alone in predicting an accident. Last week, Rich Dad Poor Dad wrote

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