Michael Burry says cryptocurrencies are a religion and the biggest speculation in history
In recent days the CEO of JPMorgan has said that Bitcoin has no value and compared cryptocurrencies to cigarettes. Legendary trader Michael Burry says he is forced to criticize Bitcoin when he sees any mention of the subject.
The controversy surrounding Jamie Dimon caught the attention of the world market, with him saying that Bitcoin was similar to cigarettes. Thus, he stated that he does not believe that people should smoke, but each person is responsible for their choices.
With this view on Bitcoin, Dimon attracted other critics to share his views on the subject.
Known for predicting the 2008 crisis, Michael Burry ended up saying that he is “obliged” to criticize the digital currency, unlike the CEO of JPMorgan, who said he didn’t want to be a spokesman for the matter.
“No difference for me either. However, I am compelled…
“Personally, I think Bitcoin is worthless. But I don’t want to be a spokesperson for that, I don’t care. It makes no difference to me.” -Jamie Dimon”
Michael Burry is even blocking people who speak highly of Bitcoin on Twitter
In addition to being compelled to criticize Bitcoin, Michael Burry is not happy to see on his Twitter the profile of people who speak highly of the digital currency.
One of them was also billionaire Michael Saylor, CEO of MicroStrategy, who posted an image showing that Burry blocked him from the social network.
— Michael Saylor⚡️ (@saylor) October 11, 2021
For the cryptocurrency market, whenever Michael Burry appears speaking ill of Bitcoin, the currency prices operate on a high, even though he has been a critic for some years of cryptocurrencies.
Other projects he recently criticized was Tether, which is supposed to be backed by Chinese companies that are at risk of bankruptcy. Furthermore, he called the Shiba Inu cryptocurrency useless, seeing that the market was buying this currency.
Cryptocurrencies are a religion and the biggest speculation in history
Continuing the attacks on the cryptocurrency market, Burry also declared on Wednesday (13) that cryptocurrencies are the biggest speculation in history.
In his view, there is an army of fake people on social networks who promote the coins, making this a religion-like market.
“But it’s breathtaking, this religion of real and false people. Speculation probably trumps anything in history.”
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