"Big Short" Michael Burry: Bitcoin's Crash Could Trigger a $1 Billion Gold and Silver Sell-Off

ZkProver · 2026-02-04T00:31:06+00:00

Michael Burry warns that a decline in Bitcoin could trigger a market chain reaction, affecting gold and silver. If Bitcoin drops to $50,000, it could threaten hodlers and lead to bankruptcies in the mining industry. He believes Bitcoin is no longer an effective digital safe haven asset.

ZkProver

2026-02-04 00:31:06

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ChainCatcher reports that, according to CoinDesk, Michael Burry, the investor who successfully predicted the 2008 financial crisis and the protagonist of “The Big Short,” warns that recent declines in Bitcoin could trigger a chain reaction across the entire market, especially in the gold and silver sectors.

The sharp drop in Bitcoin may force institutional investors and corporate finance officers to sell up to $1 billion worth of gold and silver to cover losses caused by cryptocurrencies. Michael Burry believes that Bitcoin falling below $73,000 exposes its fragile foundation; if the price drops to $50,000, it could threaten companies holding large amounts of Bitcoin and even lead to some mining companies going bankrupt.

Michael Burry thinks that Bitcoin, as a digital safe-haven asset or gold substitute, has already failed. The recent rally driven by ETFs is merely speculative behavior, not a reflection of its sustained application in the real world.

BTC-2.79%

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