Michael Burry Picks A Winner In FTX Fiasco

November 17, 2022

Famous “Big Short” investor Michael Burry is touting gold as the winner amid all the crypto scandals.

In a deleted tweet, Michael Burry wrote, "Long thought that the time for gold would be when crypto scandals merge into contagion.”

Burry seemed to be referring to the collapse of SBF’s FTX that triggered a widespread meltdown in the crypto industry.

FTX used to be the second largest crypto exchange in the industry before it filed for bankruptcy on November 11.

Celsius, Voyager, the Winklevoss twins' Genesis, and BlockFi have all felt the ripple effect of FTX collapse.

Earlier, Burry had tweeted, “you have no idea how short I am."

Burry is famous for shorting the housing mortgage in 2007 and made billions of it.