Michael Burry: Bitcoin Decline Could Trigger Sales of Gold and Silver

Michael Burry warned that the sharp decline of Bitcoin could force large-scale investors and corporate treasuries to sell 1 billion dollars worth of gold and silver. Burry stated that Bitcoin's drop below 73,000 dollars revealed the weakness of its fundamentals and posed a threat to firms holding large assets. He also indicated that if prices decline to 50,000 dollars, some mining companies could face bankruptcy risks.

Burry argued that Bitcoin has failed as a digital safe haven or an alternative to gold. He expressed that the recent gains focused on Exchange-Traded Funds (ETFs) are speculative and cannot be regarded as proof of permanent, real-world adoption.