Hedge fund manager Michael Burry, who is known for being one of the first investors to foresee and profit from the collapse of the housing market in 2007, is sharing a pessimistic prediction on the future of Bitcoin and gold.
The former Scion Asset Management owner and “Big Short” investor tells his 304,500 that governments may attempt to thwart Bitcoin and even the yellow metal in order to prevent alternative measures of value from gaining dominance in an unstable period for fiat currencies.
“Prepare for inflation. Re-opening & stimulus are on the way. Pre-Covid it took $3 debt to create $1 GDP, and it is worse now. In an inflationary crisis, governments will move to squash competitors in the currency arena. BTC. Gold.”
To further elucidate his followers on the gravity of the inflation he believes is set to hit the US, the investing legend compares the economic situation in the US today to that of Germany in