Michael Burry, the hedge fund manager whose play against the 2008 housing bubble was demonstrated in the popular movie The Big Short, where Christian Bale played the lead role, is of the opinion that the governments may move to crush Bitcoin and gold. Burry has outlined the forecast as an answer to an inflationary disaster.
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The Big Short Fame And Bitcoin Prediction
Recently, Burry tweeted “Prepare for #inflation.” He added, “Re-opening & stimulus 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.”
It is to be noted that the Twitter name of Burry is Cassandra. However, desolate forecasts about the buying power of the dollar are nothing new for the digital currency domain. These sorts of predictions are the bread and butter of influencers in the associated domain.
Safe Haven Status Of Bitcoin and Gold
Moreover, it is part of why these digital asset supporters are so excited about BTC as digital gold. The basic notion behind the statement is that since it is ultimately deflationary, signifying it has a finite amount, if the dollar ever loses its buying power, BTC is believed to be a safe haven asset.
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Image by mohamed Hassan from Pixabay
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