Cryptos

Bitcoin Bull Cathie Wood attracted Big Short Michael Burry to ARK Innovation ETF

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Michael Burry, who has overcome the subprime mortgage crisis, is now focusing on his flagship invention, ETF ARK, from Bitcoin Bull Cathie Wood. This fund company Square, GBTC, and Tesla.

Michael Burry, the main character of “Big Short Movie”, temporarily protests ARK (the ETF innovation of Cathie wood).

According to the first 13 fills in the second quarter, Michael Burry’s investment firm “Scion Asset Management”, purchased up to $ 31,000,000 worth of bearish options against the 235,000 stock eTF. The best way to profit if the value of the fund or the stock falls is to use “PUT” options.

Innovation ETF, ARK’s largest fund with assets of $ 22.62 trillion, is funded by $ 22.62 billion. Its purpose is to finance various troubled tech companies like Square, Grayscale Bitcoin Trust and Tesla. According to the second quarter 13 filings other companies than Bury cut the KRG flagship fund.

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Laurion holds put options worth up to $ 171,000,000 against 1.3 Million shares of Cormorant Asset Management, Moore Capital Management, and the bearish positions of Golden Tree Asset Management.

Cathie Wood appears to enjoy this challenge, according her. Message on twitter.

“To Michael Burry’s credit, his decision was based on the basics as well as the looming crisis in the mortgage and housing market. Unfortunately, Burry does not seem to understand the basics that generate volatile investment and growth opportunities in innovation ”.

Cathie Wood discusses cryptocurrencies

Cathie Wood believes in Bitcoin and other cryptocurrency. ARK is now a partner in 21 Shares, a Swiss company. She plans to create a Bitcoin EFT.

ARK Invest also purchased more than 450,000 GBTC shares within a month by making two purchases. ARK also bought $ 110 million shares from Coinbase in April. Some of these shares are destined for Innovation ETF.

Burry is a Bitcoin- and crypto-magnet. He warned that the market would see an “unmanageable value” in the months ahead.

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Burry warned in June that retail investors could be enticed to the “biggest and most dangerous crash” by their investments with memes stocks, cryptocurrencies, and other cryptocurrencies. He stated.

“What speculation and hype will do is lure retailers into waiting to see if there’s a horrible crash. As meme stocks fall by their tens or billions and cryptos collapse by their thousands of dollar. billion, #MainStreet losses can reach country wide ”.

Burry became famous after he called the collapse of the housing market during the “global Financial Crisis” “global Financial Crisis”.

He also made huge profit from the mortgage crisis. Burry is also best known for his book “The Big Short”, which Michael Lewis wrote and won him an Oscar.

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