This Is What 'The Big Short' Fame's Michael Burry Thinks Of Shiba Inu

Hedge fund manager, investor, and physician Michael Burry has dismissed the Dogecoin DOGE/USD inspired cryptocurrency Shiba Inu SHIB/USD, saying there are too many coins in circulation. 

Burry indicates that the vast amount of coins in existence limits its possible price appreciation.

In a now-deleted tweet, he said, "Just saying, one quadrillion seconds is about 32 million years. One quadrillion days is 2.7 trillion years, or ALL of TIME, from the beginning of the universe, multiplied by 71,000. In other words, pointless."

Burry has been skeptical about Shiba Inu and has warned retail traders about it and the so-called Stonks. 

According to the report, Burry has compared the hype around Bitcoin BTC/USD, meme stocks, and other popular assets to previous bubbles in housing and internet companies. 

Also Read: Why Bitcoin-, Ethereum- And Litecoin-Related Stock Coinbase Fell Tuesday

Last year he warned the market stating they've been "driven by speculative fervor to insane heights from which the fall will be dramatic and painful."

Burry also criticized retail investors who participated in the short squeeze of GameStop Corp GME.

He had predicted at the time that there should be "legal and regulatory repercussions" and called the actions of the investors "unnatural, insane, and dangerous."

Burry, who became famous for making billions betting against mortgage securities during the 2008 financial crisis, was played by Christian Bale in the film "The Big Short."

See Also: If You Invested $1,000 In Tesla Stock When Elon Musk Was Sued By The SEC In 2018, Here's How Much You'd Have Right Now

Photo: Unsplash

Original Publication: 2021-10-09