Big Shorts Michael Burry Bets Big on Stock Crash: Will Bitcoin Follow?
Bitcoin Big Shorts Michael Burry Bets Big on Stock Crash: Will Bitcoin Follow? Hace 23 segundos Noticias de Bitcoin Ethereum Michael Burry, one of the Tradfi banking industrys most notorious bears, just put a $1.6 billion hit out on the U.S. stock market. What happens to bitcoin while the grownups are fighting? The Scion Capital founder, who famously shorted mortgage-backed securities before the 2007 housing crisis, just gave the stock market a $1.6 billion shove of puts in SPY and QQQ! Michael Burry Bets $1.6B on Stock Market Crash Steve Anderson writes at TipRanks: “Michael Burry made a name for himself by shorting the market to the point where they made a movie about him called ‘The Big Short.’ But is he preparing for a time when lightning will strike twice?” During the U.S. subprime mortgage crisis, big bets against Wall Streets housing market earned Burry $100 million in personal profit. His big contrarian trade made some $700 million in profits for his clients. Earlier this year, he flipped bullish and bought a bunch of finance stocks, but the market wizard behind Scion Capital is apparently very certain of a near-term stock market crash. The sheer percentage of his portfolio Burry has devoted to this trade shows far more conviction than