| Mobile Web

'Big Short' Michael Burry warns of 'financial catastrophe' from bitcoin crash

Michael Burry, the investor featured in the film 'The Big Short', warns of a financial collapse scenario stemming from a bitcoin plunge. He says a continuing decline could set off major corporate losses, forced liquidations and a wave of bankruptcies among crypto miners. Burry outlines three potential outcomes tied to bitcoin falling below $70,000, then to $60,000 and $50,000, and says the shock could also hit gold and silver futures markets.