Burry deactivated his Twitter account after the markets went in the opposite direction of his forecast.
Michael Burry – the famous American investor and hedge fund manager who predicted the 2008 financial crisis – deleted his personal Twitter account.
In his latest tweet from last night , he advised investors to “sell.” However, most markets, including the cryptocurrency one, surged after the Federal Reserve increased the interest rates from 4.5% to 4.75%.The 51-year-old American, who became popular from “The Big Short” movie, tweeted yesterday one word – sell – ahead of the long-awaited FOMC meeting.the benchmark federal funds rate by 25 basis points to 4.75%.
The cryptocurrency market is also well-situated in the green. Some assets spiked by double digits, while bitcoinBurry erased his tweet and even deleted his entire account shortly after. His decision caused speculation among the financial community, with some arguing he left the social media platform to escape criticism about his advice, which, so far, is not going his way.
Others joked that this could be among the few times the hedge fund manager missed on his forecast, while Jim Cramer, whoIt is worth noting that Burry has deactivated his Twitter profile numerous times. He vowed to stop doing so at the end of last year, saying he trusts the platform’s new boss Elon Musk. However, hein the summer of 2021 that the “mother of all crashes” will hit the cryptocurrency market.
The precious metal is up by nearly 12% since Burry shared that guidance. On the other hand, bitcoin has climbed over 40%.
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