{"id":61642,"date":"2025-12-03T11:46:45","date_gmt":"2025-12-03T11:46:45","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=61642"},"modified":"2025-12-03T11:46:45","modified_gmt":"2025-12-03T11:46:45","slug":"bitcoin-bubble-worse-than-tulip-mania-claims-big-short-michael-burry","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=61642","title":{"rendered":"Bitcoin Bubble Worse Than Tulip Mania, Claims \u2018Big Short\u2019 Michael Burry"},"content":{"rendered":"
\n

Michael Burry has escalated his long-running war on Bitcoin, calling it \u201cthe tulip bulb of our time\u201d and insisting it is \u201cnot worth anything.\u201d Speaking on Michael Lewis\u2019 \u201cAgainst the Rules: The Big Short Companion\u201d podcast<\/a> released on December 2, Burry recoiled at how normalized such valuations have become in financial media.<\/p>\n

Burry Revives Tulip Bubble Comparison For Bitcoin<\/h2>\n

\u201cI think that Bitcoin at $100,000 is the most ridiculous thing,\u201d he said. \u201cSane people are sitting on TV talking about Bitcoin, they\u2019re just casually, \u2018it\u2019s 100,000, it\u2019s down now, it\u2019s 98,000.\u2019 It\u2019s not worth anything. Everybody\u2019s accepted it. It\u2019s the tulip bulb of our time.\u201d He then pushed the analogy further: \u201cIt\u2019s worse than a tulip bulb<\/a> because this has enabled so much criminal activity to go deep under.\u201d<\/p>\n

The exchange was triggered when Lewis asked whether Burry\u2019s \u201cinstitutional pessimism\u201d nudged him toward refuges like \u201cBitcoin or gold or one of these refuges that people\u201d talk about. Burry rejected Bitcoin outright and drew a sharp contrast with his own positioning: \u201cI have had gold since 2005.\u201d In his framework, Bitcoin is not \u201cdigital gold\u201d<\/a> but a speculative token whose perceived value rests on social consensus and leverage, while simultaneously, in his view, providing a powerful channel for illicit flows rather than productive capital formation.<\/p>\n

Burry\u2019s critique is consistent with his broader view that markets are again trapped in a cross-asset bubble driven by narrative and cheap money rather than fundamentals. But he does not present himself as a crypto macro-trader looking to time Bitcoin\u2019s next leg lower. Instead, Bitcoin appears in the interview as a kind of exhibit A in a system that, he argues, has once more stopped asking what anything is intrinsically worth and simply extrapolates price action and stories.<\/p>\n

Burry\u2019s Critique Is Not New<\/h2>\n

The podcast marks the latest chapter in a Bitcoin skepticism that Burry has been voicing since the last cycle. In late February 2021, with BTC near its then-record zone, he tweeted that \u201cBTC is a speculative bubble that poses more risk than opportunity despite most of the proponents being correct in their arguments for why it is relevant at this point in history,\u201d adding a warning on hidden leverage: \u201cIf you do not know how much leverage is involved in the run-up, you may not know enough to own it.\u201d<\/p>\n

By June 2021, as meme stocks and crypto surged together, Burry widened the lens<\/a>. He described the environment as the \u201cgreatest speculative bubble of all time in all things. By two orders of magnitude,\u201d and cautioned that \u201call hype\/speculation is doing is drawing in retail before the mother of all crashes,\u201d explicitly including cryptocurrencies in that warning.<\/p>\n

Today\u2019s \u201ctulip bulb\u201d broadside on Lewis\u2019 podcast does not represent a new stance so much as the culmination of that trajectory: from calling Bitcoin a leveraged \u201cspeculative bubble\u201d in early 2021 to declaring in 2025 that, at the kinds of levels now discussed on television, it is simply \u201cnot worth anything\u201d at all.<\/p>\n

At press time, BTC traded at $93,226.<\/p>\n

\"Bitcoin<\/div>\n","protected":false},"excerpt":{"rendered":"

Michael Burry has escalated his long-running war on Bitcoin, calling it \u201cthe tulip bulb of our time\u201d and insisting it is \u201cnot worth anything.\u201d Speaking on Michael Lewis\u2019 \u201cAgainst the Rules: The Big Short Companion\u201d podcast released on December 2, Burry recoiled at how normalized such valuations have become in financial media. Burry Revives Tulip […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-61642","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/61642","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=61642"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/61642\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=61642"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=61642"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=61642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}