$BTC
Michael Burry, the "Big Short" investor, is warning that Bitcoin's plunge could trigger a massive sell-off in gold and silver, potentially wiping out $1 billion in precious metals. He's concerned that Bitcoin's decline exposes its fragile foundations, threatening firms with large holdings and possibly pushing mining companies toward bankruptcy if prices drop to $50,000 .
Key Risks Highlighted by Burry:
Bitcoin's Speculative Nature_: Burry argues that Bitcoin has failed as a digital safe haven or alternative to gold, viewing recent ETF-driven gains as speculative.
Institutional Liquidation_: A severe Bitcoin drop would force corporate treasuries and speculators to de-risk by selling profitable positions in tokenized gold and silver futures.
Market Volatility_: Bitcoin's 40% decline from recent highs has triggered fears of a broader crypto market collapse .
Burry's warnings are sparking debate about Bitcoin's value and role in the global financial system. Want to know more about the potential impact on crypto markets or precious metals?