Michael Burry, a fund manager and investor popularized by the movie “The Big Short,” believes gold will shine even more as investors seek safety from crypto risks. After Sam Bankman-Fried’s FTX debacle
Burry is known for shorting the US housing market and profiting from the 2008 financial crisis. He also made millions by investing in GameStop in 2019 ahead of the Reddit frenzy and meme stock festival in January. 2021
In addition, he alsoshareHis thoughts on gold in a now-deleted tweet. According to Burry, Gold’s time will come when the crypto markets begin to thrive. Troubled by the cause of the collapse of FTX
“I thought for a long time that the time for gold was when there was a crypto scandal. to merge with the epidemic,” said the fund manager.
The collapse of FTX caused another liquidity crisis in the crypto industry. This is because several entities such as Genesis, BlockFi, Galaxy Digital and Ontario Teachers Pension Plan (OTPP) were exposed to financial risk with FTX prior to bankruptcy.
which at the same time Gold has soared 8% this month after seven consecutive months of losses. according to analysts And investors have confidence in this precious metal. Due to cooling inflation and crypto risks. and other reasons
Source: LINK