As Bitcoin is currently trading at $67,460, legendary investor Michael Burry has issued a cautionary warning about potential risks if the cryptocurrency continues to plummet. According to Foresight News, Michael Burry, known for his role in the film “The Big Short,” expressed concerns about the ripple effect a Bitcoin crash could have on the entire asset market.
Technical Weaknesses of Bitcoin Below $73,000
Michael Burry emphasized that Bitcoin reveals fundamental vulnerabilities when its price drops below the $73,000 threshold. He argued that the technical foundation of this cryptocurrency is not as solid as many believe. If Bitcoin continues to decline to $50,000, large Bitcoin holders could face serious threats, potentially pushing miners toward bankruptcy.
Michael Burry and Concerns Over Gold and Silver Sell-Offs
According to Michael Burry, institutional investors and CFOs of major companies might be forced to liquidate gold and silver holdings totaling up to $1 billion to offset losses from a Bitcoin collapse. This would have a significant economic impact, as cutting off financial linkages would lead traditional assets to experience continuous sell-offs.
Bitcoin ETFs: Growth or Speculative Bubble?
Michael Burry specifically criticizes the recent surge in Bitcoin’s value, which he attributes to ETF funds. He believes Bitcoin has failed as a digital safe haven or as a replacement for gold. Instead of demonstrating sustainable real-world acceptance, this price increase is mainly speculative, driven by inflows from ETF products rather than genuine investor demand.
Burry’s perspective suggests that market participants should be especially cautious of hidden risks behind Bitcoin’s spectacular growth, particularly when technical indicators show signs of weakening.
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Michael Burry Warns: Bitcoin Drop Could Trigger Large-Scale Gold and Silver Sell-Off
As Bitcoin is currently trading at $67,460, legendary investor Michael Burry has issued a cautionary warning about potential risks if the cryptocurrency continues to plummet. According to Foresight News, Michael Burry, known for his role in the film “The Big Short,” expressed concerns about the ripple effect a Bitcoin crash could have on the entire asset market.
Technical Weaknesses of Bitcoin Below $73,000
Michael Burry emphasized that Bitcoin reveals fundamental vulnerabilities when its price drops below the $73,000 threshold. He argued that the technical foundation of this cryptocurrency is not as solid as many believe. If Bitcoin continues to decline to $50,000, large Bitcoin holders could face serious threats, potentially pushing miners toward bankruptcy.
Michael Burry and Concerns Over Gold and Silver Sell-Offs
According to Michael Burry, institutional investors and CFOs of major companies might be forced to liquidate gold and silver holdings totaling up to $1 billion to offset losses from a Bitcoin collapse. This would have a significant economic impact, as cutting off financial linkages would lead traditional assets to experience continuous sell-offs.
Bitcoin ETFs: Growth or Speculative Bubble?
Michael Burry specifically criticizes the recent surge in Bitcoin’s value, which he attributes to ETF funds. He believes Bitcoin has failed as a digital safe haven or as a replacement for gold. Instead of demonstrating sustainable real-world acceptance, this price increase is mainly speculative, driven by inflows from ETF products rather than genuine investor demand.
Burry’s perspective suggests that market participants should be especially cautious of hidden risks behind Bitcoin’s spectacular growth, particularly when technical indicators show signs of weakening.