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From Tulips to Bitcoin: Hedge Fund Legend Burry Warns Digital Currencies Are an Era Bubble
Once famous for predicting the 2008 financial crisis, hedge fund manager Michael Burry recently issued a warning again on a well-known podcast. The real-life inspiration for the movie "The Big Short" bluntly stated that Bitcoin will become a worthless asset, and its explosive rally is reminiscent of the 17th-century tulip mania.
Burry believes that the surge of Bitcoin to $100,000 is an absurd speculation. In the program, he mocked TV analysts for their complacent attitude toward Bitcoin's price fluctuations—from $100,000 down to $98,000—completely unable to accept this irrational frenzy. In his view, the madness of the tulip bubble in history is replaying in the cryptocurrency market.
As a professional who accurately predicted the financial crisis, Burry's perspective undoubtedly reflects deep concern within the financial industry about current digital asset speculation.