Big Short investor Michael Burry criticizes Shiba Inu Crypto after Shib has risen by 230 %-says it is senseless-Altcoins
Big Short investor Michael Burry criticizes Shiba Inu Crypto after Shib has risen by 230 %-says it is senseless-Altcoins
The hedge fund manager Michael Burry, who is famous for his forecasts of the 2008 financial crisis, considers the Dogecoin rival Shiba Inu Token (Shib) to be "senseless" and criticizes his offer. The cryptocurrency has been shot by 230% in the past week.
Michael Burry shares his opinion on Shiba Inu token
famous investor and founder of the private investment company Scion Asset Management, Michael Burry, commented on the Shiba-Inu-token (shib) after the cryptocurrency of the Dogecoin rival had increased by 230% last week.
Burry is primarily known for being the first investor to predict the US Subprime mortgage crisis that had occurred between 2007 and 2010 and benefited from it with Christian Bale.
The Big Short-Investor shared Coinbases Description des Shiba-Inu-tokens on Saturday, which means: "Shiba inu (shib) is a token that is one token Ethereum -based alternative to Dogecoin (Doge), the popular meme, will be coin.
Commenting this description, Burry wrote :
Simply put, a billion seconds corresponds to about 32 million years. A billion days are 2.7 trillion years or all the time from the beginning of the universe, multiplied by 71,000. In other words: pointless.
Several people quickly pointed out on Twitter that the circulating range of Shib is no longer a billiard. The market data of Coinbase show that the SHIBA-Inu-token offer is currently 394.8 trillion coins.
The Shiba TOKEN website explains: "Initially with a stock of 1 billiard, our founder Ryoshi has 50% in uniswap, then ' burned the other half to Ethereum Mitarch Ramp light, as a butterin Donated from Shib to India's crypto-covid aid fund.
At the time of writing, Shib has increased by 235% in the past week and 6.76% in the last 24 hours. The cryptocurrency is traded at $ 0.00002649 and its market capitalization is $ 10.3 billion.
Coinbase Pro announced The listing of shiba inu crypto in June. In September, the crypto exchange listed on the Nasdaq announced that Shib is available on Coinbase.com and in the Android and iOS apps from Coinbase.
Burry warns against investing in cryptocurrencies. In June he predicted the" mother of all falls "and noticed:" The problem with Crypto, as with most things, is the leverage ”.
The big short-investor also warned that governments compete in the monetary sector, including Bitcoin, could destroy. However, he made it clear: "I do not hate" btc "and emphasizes that he is" not too short " btc ", because" everything is possible in the short term. "
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