Michael Burry ,Celebrity investor, who was among the first to profit from the subprime mortgage crisis, has deleted his Twitter account shortly after making a public inquiry about shorting crypto days before Bitcoin hits $60,000.
In the past few weeks, Burry has been on a Twitter tear, denouncing what he called U.S. class warfare and disputing the argument that the wealthiest 1% don’t pay enough taxes.
According to Twitter, Burry’s account no longer exists as of Friday morning. Burry hasn’t been shy about deleting his social media pages before.
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According to Burry, the worst market crash in history will occur due to a huge bubble and impending boom in the stock market. After deleting his account in April, he had been on Twitter just one week before that action. The weeks prior to that, Burry had warned that the financial markets were set for a fall.
Burke most recently expressed concern over the rise of passive investing in late September.
Not only have Burry’s tweets caused him trouble on social media, but he could also be in trouble with the Securities and Exchange Commission because of them. Getting in the news and tweeting lately has apparently prompted the SEC to visit Scion Asset Management, the head of the firm said in a March tweet that has since been removed.
The financial community closely watches Burry’s comments when he surfaces on Twitter, though he rarely discusses his own investments when he does.
Michael Burry on bitcoin:
“The Big Short” fund manager Michael Burry said crypto investors should brace for the “mother of all crashes.”
In another tweet, he compared bitcoin to housing in 2007 and the Internet in 1999, describing it as a “speculative bubble.”
Crypto, in its brief history, has been notably volatile and subject to periods of euphoria, crashes and long bouts of languishing prices. That was the case in December 2017, as bitcoin touched a value near $20,000 before tumbling into a multiyear retrenchment.