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<p>Michael Burry, the investor known for predicting the 2008 financial crisis, has renewed his criticism of Bitcoin, stating the cryptocurrency is “worth nothing.”</p>
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   <li>Michael Burry says Bitcoin is “worth nothing”</li>
   <li>The investor, famous for predicting the 2008 financial crisis, renewed his criticism of the cryptocurrency as a speculative bubble lacking fundamental support.</li>
   <li>Crypto markets remain volatile and sensitive to regulation and investor sentiment.</li>
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<p>Burry claimed Bitcoin’s rise to six-figure price levels represents a speculative bubble not supported by quantifiable fundamentals. The investor noted on Michael Lewis’ podcast that widespread acceptance of Bitcoin’s elevated valuations demonstrates market behavior consistent with speculative activity.</p>
<p>You might also like: <a href="https://crypto.news/crypto-on-alert-as-michael-burry-goes-short-on-us-markets/" rel="noopener noreferrer nofollow"> Crypto on alert as Michael Burry goes short on US Markets </a></p>
<p>Burry gained prominence for identifying structural vulnerabilities in the housing market that preceded the 2008 financial collapse, a prediction documented in Lewis’s book “The Big Short” and the subsequent film adaptation directed by Adam McKay.</p>
<p>Bitcoin has traded above $100,000 in recent months. Indeed, it enjoyed a significant increase from previous price levels and is up 6% for the day. Still, it’s down 18% for the last three months. See below.</p>
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  Source: <a href="https://www.coingecko.com/en/coins/bitcoin" target="_blank" rel="noopener noreferrer nofollow">CoinGecko</a>
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<p>Still, the cryptocurrency has attracted both institutional and retail investment despite ongoing debate about its intrinsic value.</p>
<p>Burry has maintained a critical stance toward Bitcoin for an extended period, questioning its valuation methodology and comparing its price movements to historical speculative manias.</p>
<p>The investor’s comments come as cryptocurrency markets continue to experience significant volatility, with Bitcoin prices fluctuating amid regulatory developments and shifting investor sentiment.</p>
<p>You might also like: <a href="https://crypto.news/ai-bubble-bitcoin-crypto-market-correction/" rel="noopener noreferrer nofollow"> Looming AI bubble could bite deep into Bitcoin and crypto markets </a></p>
<h2 class="wp-block-heading" id="strong-is-a-bad-situation-about-to-get-worse-strong"><strong>Is a bad situation about to get worse?</strong></h2>
<p>Burry’s problem isn’t just with Bitcoin. “I think that we are in a bad situation in the stock market. I think the stock market could be in for a number of bad years,” Burry told Lewis on the “Against the Rules” podcast.</p>
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<p>Burry told Lewis that concentrated capital and inflated valuations have undermined price discovery, creating conditions for an unusually broad market crash.</p>
<p>He argued that the market’s passive structure would amplify the fallout, causing most assets to fall together and making it difficult “to be long anything and be safe.”</p>
<p>Read more: <a href="https://crypto.news/kraken-backed-finance-expand-tokenized-stock-platform/" rel="noopener noreferrer nofollow"> Kraken buys Backed Finance to expand tokenized stock platform </a></p>

Bitcoin rebounds, but so what? Michael Burry says it’s still ‘worth nothing’

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