Everything in his post is provably incorrect.
DUMB: "concur with Burry"
TRUTH: Michael Burry has been wrong 71% of the time. In other words, You should have made your analysis off of flipping a coin.
LIE: "Our BTC price target is 0.0. That's not just for shock factor. It's where the math takes us."
TRUTH: No one can see the future, but if you look at historical math, there's not a single calculation you can make that shows Bitcoin going to zero. All the math, regardless of what model you use shows Bitcoin going up, forever.
LIE: "It's not worked as a dollar hedge,"
TRUTH: Of course it has. It has been the best hedge against the dollar compared to any other financial instrument. The 10-year CAGR for Bitcoin is 68%.
LIE: "rather it's just a speculative instrument correlated to the Nasdaq."
TRUTH: Bitcoin's correlation with the NASDAQ is R=0.20. As in not correlated at all.
LIE: "It's not gaining any traction as medium of exchange."
TRUTH: Bitcoin moved on the same order of magnitude as Visa with an estimate $9 trillion of value transferred in 2025.
WHO CARES: "No serious central bank will ever own something where Michael Saylor controls the float."
TRUTH: That's not a bug. That's a feature. DUH!
LIE: "The miners (who are the network) are bleeding cash. "
TRUTH: Bitcoin Mining self-regulates. It's a beautiful feature of Bitcoin. The whole point of mining is to get rid of the cash and get the Bitcoin. Miners are not losing money if they know how to run a business.
LIE: "It's horribly inefficient as a transaction processor and wastes tremendous amounts of energy. Nothing "green" about this "coin"."
TRUTH: Bitcoin is the best invention for the energy industry, ever. Think stranded energy, grid stability, monetization of wasted resources, and mostly renewable energy use. Do your homework.
Concur with
@michaeljburry . Our BTC price target is 0.0. That's not just for shock factor. It's where the math takes us. It's not worked as a dollar hedge, rather it's just a speculative instrument correlated to the Nasdaq. It's not gaining any traction as medium of exchange. No serious central bank will ever own something where Michael Saylor controls the float. The miners (who are the network) are bleeding cash. It's horribly inefficient as a transaction processor and wastes tremendous amounts of energy. Nothing "green" about this "coin". We think it's a zero.
ibtimes.co.uk/michael-burry-…