The famous investor “poured cold water” at the reason Tesla bought $ 1.5 billion in Bitcoin

Yesterday, Tesla rocked the crypto market when in a filing with the SEC Securities Commission, the company disclosed its investment of up to $ 1.5 billion in Bitcoin and its intention to use it as a vehicle. payment for your product.

But one famous investor doubts the real motive behind it. With a series of tweets on Monday, investor Michael Burry questioned Tesla’s $ 1.5 billion investment in Bitcoin and set off alarm bells about Dogecoin’s record high.

Michael Burry, who is known for his “Big Short” for predicting a crash in the US home market

” Chinese regulators summoned Tesla for quality issues when consumers complained about quality … but Tesla bought Bitcoin .” The tweet from the owner of the Scion Asset Management Fund said. ” In my eyes, it’s a lot like #digitalconfetti (digital distraction) .”

In other words, Mr. Burry thinks that Tesla may have timed a purchase of $ 1.5 billion in Bitcoin to distract people’s attention to troubles in China.

Michael Burry, who is famous from Michael Lewis’s book “The Big Short” when he bet billions of dollars on the collapse of the US housing market in 2007. He recently also revealed that he was the man who did. shorted Tesla in December of last year.

Not only doubting Tesla’s motivations to invest in Bitcoin, Burry’s tweet also warned everyone about Dogecoin, the cryptocurrency is also making record gains in recent times. Created as a joke a few years ago, the cryptocurrency has recently hit record highs after a few tweets from Elon Musk. Currently, this currency has a market capitalization of up to 10 billion USD.

” Dogecoin may just be breakfast .” Burry said. He contacted a Wall Street Journal story in which the Dogecoin creator said that Dogecoin’s current 8-cent price tag is just as ridiculous and pointless as the fact that GameStop’s stock hit $ 325 last month.

” We are on the cusp of everything .” Burry continued, referring to a chart pattern that showed a sudden increase in the price of an asset and the trading volume, but that was followed by a rapid decline in price.

” The markets are dangerously boiling .” Mr. Burry said in an earlier tweet. In another tweet, Mr. Burry also alluded to a crash in the market – a crash – in the coming months.

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