Bitcoin has a new basher, and it’s a really big one this time

There have been plenty of well-known Bitcoin bashers (people who believe the real value of Bitcoin is zero), but this time a new and very well-known investor has emerged. Michael Burry, the legendary “Big Short,” has opened a massive position against Palantir and Nvidia while calling Bitcoin the “tulip bulb of our time.”

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Michael Lewis, author of the book “The Big Short,” among others, interviewed Michael Burry earlier this month. Burry is the legendary investor who rose to fame in 2006 by predicting the 2007-2008 collapse of the US housing market. He recently opened a massive position against Palantir and Nvidia, believing AI is a massive bubble and that a crash is coming.

During that AI crash, he also predicts a major price drop for Bitcoin will happen, arguing that the current valuation of the largest digital currency, around $100,000, is greatly exaggerated.

Burry, who was played by Christian Bale in the famous 2015 film based on Lewis’s book, believes Bitcoin’s current status is reminiscent of the tulip mania of the 1600s in the Netherlands. He also thinks Tesla is incredibly overvalued on the stock market and is convinced that President Trump will appoint a Fed chairman who will lower interest rates to zero.