Crypto Market To Plummet, Predicts Michael Burry

Everyone remembers the housing crash of 2008 that affected the global economy. Michael Burry, Founder of , was one among many who had predicted the crash well in advance.

Now, michael burry michael burry Michael Burry is the iconic investor associated with "The Big Short," and is recognized for foreseeing the financial crisis of 2008. As the founder of Scion Asset Management, he has redirected attention to emerging markets, such as blockchain and digital assets.   Quick Facts Full name Michael James Burry Birth 19-06-1971, San Jose, California, United States Nationality American Education University of California, Los Angeles Marital status Married Net worth Estimated $300 million   Although Burry was initially hesitant about Bitcoin, he has examined crypto's influence in financial markets, cautioning about speculative bubbles while recognizing blockchain's possibilities in decentralization.   His investment approaches frequently contest conventional narratives, rendering his opinions on digital assets very impactful.   Michael Burry - Career Highlights 2000 – Founded Scion Capital, achieving massive returns. 2008 – Predicted the housing crash, profiting from the crisis. 2013 – Reopened Scion Asset Management, analyzing emerging markets. 2020 – Warned of speculative bubbles in crypto and stocks. 2022 – Recognized blockchain’s role in financial decentralization. 2023 – Explored digital assets as an alternative investment class.   Burry's profound financial knowledge and unconventional perspective persist in influencing conversations about regulating cryptocurrency, decentralized finance (DeFi), and economic models based on blockchain technology.   Awards & Recognitions of Michael Burry Year Institution Description 2008 Wall Street Journal Financial Crisis Forecaster 2020 Forbes Market Disruptor Award 2021 Bloomberg Top Contrarian Investor 2022 CoinDesk Blockchain Macro Analyst of the Year 2023 Financial Times Alternative Investments Thought Leader   Useful Links Connect With Michael Burry Platform Link X (formerly Twitter) twitter.com/michaeljburry LinkedIn linkedin.com/in/michaelburry Bloomberg bloomberg.com Scion Asset website scionasset.com EntrepreneurInvestorManagement has given a series of interesting crypto predictions. He starts by commenting on the SEC’s investigation against coinbase coinbase - support@coinbase.com WalletCentralised Exchange . Burry claimed that the SEC doesn’t possess the proper resources or IQ points that could act in support of the investigation.

At the start of this week, Coinbase came under SEC’s scrutiny for listing tokens that the SEC considers securities. Many industry experts and traders criticized the Commission for such a move and for being litigious without adequate reason. 

Also, pat toomey pat toomey Pat Toomey EntrepreneurSenator , a Pennsylvania legislator, says that the SEC already knew what security is and still chose to investigate Coinbase.

Burry also discussed walmart china’s profit-making as he had forecasted that high gas and food costs would reduce citizens’ capacity to make any other purchase.

Further, he claimed that retail investors had inaccurately considered the bullwhip effect as inflation, causing inventory accumulation. He said several other retail companies would pull back the prices to sell their inventories.

Crypto Market To Decline, Claims Michael Burry

Michael Burry didn’t stop here. 

He made a crypto prediction stating that crypto and technology stocks run parallel to each other as there is a connection between them. Hence, this correlation and the earning reports affect crypto and stocks, causing them to plummet even further.