Michael Burry, the archetype of the movie "The Big Short," criticized Shiba Inu as "meaningless" in his recent tweets, even though the altcoin, which was on fire by Musk, has more than tripled over the past week.
Shiba Inu is a derivative of Dogecoin, with a supply cap of 1,000 trillion coins. In a now-deleted tweet, Bury wrote: "I just want to say that 1000 trillion seconds is about 32 million years, and 1000 trillion days equals 2.7 trillion years, or all the time from the beginning of the universe, multiplied by 71,000." In other words, meaningless. ”
Bury's tweet suggests that he doesn't see The Shiba Inu as an attractive investment because the nearly unlimited supply limits its possible price appreciation.
Berry has been warning this year of a huge bubble in U.S. stocks and predicting a great crash that is coming , the "mother of all crashes" is coming. He has also repeatedly sounded alarm bells about cryptocurrencies, describing bitcoin as a "speculative bubble" driven by huge amounts of leverage.
In addition, given the threat of government regulation, Bury is skeptical of Bitcoin's long-term prospects. He also mocked The price of Dogecoin for soaring to record highs, calling it "dog's breakfast."
Bury also compared the hype of Bitcoin, Meme shares and other popular assets to previous real estate and dot-com bubbles, warning that they had been "pushed to crazy heights by speculative enthusiasm, and that falling from there would be dramatic and painful." ”
Sina Finance
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