It’s very 2021, and Dr Michael Burry has predicted a mass crypto collapse.
There are people in this world you just don’t want to be right all the time. For anyone who has invested in crypto or meme stocks look away now. The fortune-teller of all things finance has predicted ‘the mother of all crashes is coming’. Dr Michael Burry foresaw a housing market crash, which then preceded the global financial crisis of 2007-2008.
Burry’s Twitter fingers will have crypto investors sweating bullets, as the famous financial fortune teller tweeted, “All hype/speculation is doing is drawing in retail [investors] before the mother of all crashes,” He also added, “When crypto falls from trillion, or meme stocks fall from tens of billions, #MainStreet losses will approach the size of countries.”
We told you to look away…Burry hasn’t avoided speaking out against crypto investors, the message has been clear from day dot. The cult-like investing in cryptocurrency is seen by Bury as investors borrowing capital to make a return far beyond their means. While Burry’s thoughts on crypto investors mirror the same description of a ‘cult’ the famed business oracle has amassed a cult-like following himself. His billion-dollar bet against the bubble was chronicled in the book and the movie “The Big Short.” Ever since his bold prediction, followers of Burry echo almost every one of his statements.
If 2021 has proved anything, it’s the fact nothing is impossible, Burry’s troubling predictions will no doubt rattle the feathers of all the crypto investors waiting to catch their break. They might get it, just not the break they had hoped for.