“Big Short” Michael Bury asks to short cryptocurrencies a few days before Bitcoin reaches $60,000

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“Big short” investor Michael Burry asked how to short Bitcoin before Bitcoin hit a six-month high and broke the $60,000 level.

“Well, I haven’t done this before, how do you short cryptocurrencies,” Bury said in a tweet on Wednesday. “Do you have to borrow money? Is there a short rebate? Can positions be squeezed and called? In this turbulent situation, I tend to think that it is best not to go short, but I am thinking aloud here.”

Bitcoin broke through $60,000 on Friday, its highest level since April 17. Investors and analysts are optimistic that US regulators may give the green light to the first Bitcoin futures exchange-traded fund as soon as next week. This move will expose mainstream investors to the crypto market, thereby making Wall Street more accepting of digital assets.

The well-known investor has been an outspoken critic of cryptocurrency, questioning its volatility and speculative trading activities. He has previously compared Bitcoin to the real estate bubble of 2007, and he made bets and profited from it.

“MSCI stated that a market value of 7.1 trillion U.S. dollars is related to the stocks of companies that hold cryptocurrencies. But MSCI also stated that only 79 of the 6,500 company board members have crypto expertise. As they say, this is a feature, Not a mistake,” he said in a now-deleted tweet on Thursday.

In the past week, Burry also called the meme token Shiba Inu “meaningless.”

Burry was one of the first investors to profit from the subprime mortgage crisis. He was portrayed in Michael Lewis’ book “The Big Short” and the subsequent Oscar-winning film of the same name. Burry currently manages approximately $340 million in assets at Scion Asset Management.

Scion Asset Management did not immediately respond to CNBC’s request for comment.

Burry often deletes the Twitter account under @michaeljburry and makes it private. In the past week, he reactivated his account and made it public. In his recent Twitter storm, he commented on a range of topics, from taxing the wealthy to the Federal Reserve and former President Donald Trump. On Friday, Burry appeared to delete his account again.

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