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'Big Short' Investor Michael Burry Warns Governments Could 'Squash' Bitcoin

Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, has warned that governments could “squash” bitcoin in an inflationary crisis. Expecting more massive stimulus from the government, he said to “prepare for inflation.”

Michael Burry Shares His View on Bitcoin

American investor Michael Burry has warned that governments could “squash” bitcoin and even gold to protect their own currencies. Burry founded hedge fund Scion Capital and 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.

In a series of tweets Thursday night, Burry wrote, “Prepare for inflation.” He expects more stimulus from the government to drive up prices, fuelling inflation, as the economy tries to recover from the coronavirus pandemic. He tweeted:

In an inflationary crisis, governments will move to squash competitors in the currency arena. $BTC #gold

Burry became famous after his billion-dollar bet against the U.S. housing bubble was chronicled in the book and movie “The Big Short.” The film was directed by Adam McKay and starred Christian Bale as Burry, Steve Carell, Ryan Gosling, and Brad Pitt.

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In addition, his hedge fund was holding 1.7 million Gamestop shares but sold all of its holdings in the fourth quarter of last year, before the massive surge fuelled by Wallstreetbets. According to Forbes, “The stock sales mean Burry missed out on a Reddit-fueled 2,000% surge in the video game retailer at one point in 2021, which would have made him over $1 billion.”

Burry further clarified his stance on bitcoin in a tweet Saturday:

I don’t hate BTC. However, in my view, the long term future is tenuous for decentralized crypto in a world of legally violent, heartless centralized governments with lifeblood interests in monopolies on currencies. In the short run anything is possible – why I am not short BTC.

Do you agree with Michael Burry about bitcoin? Let us know in the comments section below.

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Alright, so I thought I had 0.7 btc in my old bitcoin-qt wallet. When I loaded it up it showed 0.97 which was nice. But when I check the addresses, I only find 0.13. And any amount over that doesnt get confirmed.

What I read I understood that using an old version of core QT may cause the btc to not be transferred back.

Or is it because I have an old wallet file that doesnt include the new receiving addresses?

Unfortunately, after reindexing the Blockchain, my laptop (or rather the task) keeps crashing. I therefore extracted the private keys and created a new electrum wallet.

Now, even the most recent transaction doesnt get shown and my balance is 0.

Happy about any idea or help what went wrong.
Thanks in advance.