Michael Burry Warns of a 'New Financial Crisis' Triggered by Continued Bitcoin Decline

Michael Burry, the investor known for predicting the 2008 financial crisis and featured in the movie 'The Big Short: Inside the Doomsday Machine', has warned in a post on his Substack that a new financial collapse could occur if the Bitcoin (BTC) price decline does not stop.

Burry pointed out the severe bearish market for Bitcoin, stating that continued price drops could have significant impacts.

Bitcoin has recorded a decline for four consecutive months in January, marking its longest downturn since 2018. The price has fallen about 37% from last year's peak, creating a challenging situation for investors. Last week's sharp decline in the prices of gold and silver was...