Michael Burry, the real-life protagonist of the movie "Betting and Throwing", became famous overnight with his insight into the financial tsunami. His company even bought GME stock the year before and made a huge profit of 4.2 billion Hong Kong dollars.

A few days ago, he posted on Twitter that the restart of the U.S. economy and the introduction of more economic stimulus packages will push up inflation. At present, at least $3 in debt can reach $1 in GDP. Governments may "destroy" Bitcoin and gold. So as to protect the local currency.

According to foreign media reports, Michael Burry, a well-known hedge fund manager, once deleted a tweet on February 18, stating that the economic stimulus plan is being launched. As early as before the COVID-19 hit, every dollar of debt could create a dollar of GDP. The situation is getting worse now. If an inflation crisis breaks out, governments will destroy fiat currency competitors, such as Bitcoin and gold.

Michael Burry said via Twitter yesterday (21st) that the market is currently active on the blade. He pointed out that speculative stock bubbles and financing have increased significantly, and gamblers will eventually be burdened with excessive debt.

He said that the weekly call volume of the Chicago Option Exchange (CBOE) has hit a new high for more than a year, but there are many more buys than sells, and call options continue to surge because they can avoid market risks.

Michael Burry posted on Twitter today that he was accused of not warning of financial crises in the past, but this time no one has listened to his warning, he will prove that what he said will be realized. It is reported that Scion Asset Management, an investment company under Michael Burry, began to purchase GME stocks in 2019.

As of the third quarter of last year, it was reported that the purchase price was between US$5 and US$10. It already holds approximately 1.7 million shares, valued at approximately US$17 million. (Approximately 130 million Hong Kong dollars) at one time soared to approximately $550 million (approximately 4.2 billion), an increase of more than 32 times.

Michael Burry, who had insight into the financial tsunami in 2008, predicted that bonds would explode one day, so he went short-selling and boldly bet against major investment firms. Finally, the bond exploded, making him rich and famous overnight. , And was remade into the movie "Betting on a Throw".

Axact

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