‘Big Short’ Investor Michael Burry Warns of ‘Mother of All Crashes’ — Says Crypto’s Problem Is Leverage
Michael Burry, famous investor and founder of private investment firm Scion Asset Management, shared his view about where he sees the markets heading.
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.
The Scion Asset Management founder tweeted Thursday:
“All hype/speculation is doing is drawing in retail before the mother of all crashes. #FOMO Parabolas don’t 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’t changed.”
He also commented on cryptocurrency, asserting that “The problem with crypto, as in most things, is the leverage.”
Burry is not the only one foreseeing a crash. Mr. Robert Kiyosaki also said that the biggest crash in world history is coming.
