Michael Burry — the investor famous for calling the 2008 housing crash — is once again taking aim at Bitcoin. And his message this time is blunt: Bitcoin is “worth nothing.”
Burry doubles down on his bearish view
Speaking on Michael Lewis’ podcast, Burry said Bitcoin’s surge into six-figure territory isn’t based on anything solid. He believes the current price levels show classic signs of a speculative bubble, not real value.
According to him, people accepting Bitcoin’s high price as normal is exactly the kind of behavior you see when markets get swept up in hype rather than fundamentals.
Burry has been skeptical of Bitcoin for years. He has repeatedly questioned how anyone can measure its true value and often compares its price swings to historic financial manias.
Bitcoin is up… but still under pressure
Bitcoin has been trading above $100,000 in recent months. It jumped again today, up about 6%, but it’s still down nearly 20% over the last three months.
Despite the pullbacks, Bitcoin continues to attract both retail buyers and big institutions. Supporters argue it has long-term value as digital money and a hedge against inflation. But critics like Burry say the market is still driven mostly by emotion, momentum, and speculation.
Burry sees bigger trouble ahead
Burry’s warnings aren’t limited to Bitcoin. He also believes the entire stock market is heading for serious pain.
“I think we are in a bad situation in the stock market,” he told Lewis. “I think the stock market could be in for a number of bad years.”
Burry says huge amounts of money have been funneled into the same group of companies, pushing their valuations far beyond what he believes is reasonable. In his view, that has broken price discovery — the process that helps markets figure out what something is actually worth.
He also warned that today’s market structure, dominated by passive investing and index funds, could make any downturn far worse. If everything sells off at once, he said, it will be hard for investors to find anything “safe” to hold.
The bottom line
Crypto markets are already jumpy, reacting to regulation, economic news, and investor sentiment. Burry’s comments add another layer of skepticism at a time when many traders are still unsure whether Bitcoin’s recent rebound is sustainable.
While some see Bitcoin as the future of finance, Burry sees it as another bubble waiting to burst — and he believes the broader market isn’t far behind.
