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Opinion: Why A Crypto Geek Paid $500,000 For A Picture Of A Rock
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$500,000 for a Picture of a Rock NFT Says Where the Cycle Is
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NFT craze has echoes of Weimar Germany
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Michael Burry expects the post-pandemic economic recovery and another round of stimulus to drive up prices, and doesn t see bitcoin or gold as guaranteed havens for investors. Prepare for #inflation, the investor said in a now-deleted tweet on Thursday night. Re-opening & stimulus on the way. Pre-COVID it took $3 debt to create $1 GDP, and it is worse now. In an inflationary crisis, governments will move to squash competitors in the currency arena. $BTC #gold.
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Burry shot to fame after his billion-dollar bet against the US housing bubble was chronicled in the book and movie The Big Short. He also helped lay the groundwork for GameStop s stock to skyrocket last month when he invested in the video-game retailer back in 2019.