Bitcoin is staging a comeback, climbing above key support levels after recent market turbulence. However, legendary investor Michael Burry, famous for predicting the 2008 financial crash, remains skeptical — calling Bitcoin “essentially worthless” despite the rebound.
Burry argues that Bitcoin lacks intrinsic value, produces no cash flow, and relies entirely on speculation. He believes that short-term price rallies do little to change its fundamental weakness. In his view, even as prices rise, the digital asset remains a highly speculative bet, disconnected from traditional financial metrics.
His comments echo past warnings about crypto’s volatility and potential for massive drawdowns, signaling caution for investors chasing momentum in a recovering market.
Despite Burry’s stark warning, crypto markets continue to show resilience. Institutional inflows, growing adoption of Bitcoin ETFs, and steady miner demand are supporting the rebound. Many investors argue that scarcity, network effects, and growing mainstream acceptance provide long-term value, even if short-term critics remain unconvinced.
While Burry’s opinion adds a dose of caution, the market seems ready to move past skepticism — for now. Traders and investors should note that volatility is likely to remain high, and rebounds may not signal a permanent recovery.
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