Michael Burry, the eccentric hedge fund manager on whom the 2015 blockbuster “The Big Short” was based, is called out by the crypto community on Twitter today after asking how to sell cryptocurrencies short.
“Okay, I’ve never done this before, how do you shorten a cryptocurrency,” Burry began writing in a tweet Wednesday night in the US, after sharing his rather negative feelings towards crypto in a number of other tweets previously.
“Do you have to guarantee a loan? Is there a short discount? Can the position be tightened and recalled? In such volatile situations, I tend to think it’s best not to bypass, but I’m thinking out loud here, ”the former hedge fund manager continued, writing in the tweet.
Burry’s tweet, which was later deleted, was quickly echoed by members of the crypto community, who wondered how it was possible that one of the world’s most famous short sellers had no idea how to sell crypto.
Among them was popular crypto trader Cobie, who pointed out that Burry has gone from “manually searching for hundreds of thousands of loans within CDOs.” [collateralized debt obligation] find it hard to use Google for “how to open bitcoin shorts”. “
Also noting the apparent incompetence on the part of the famous investor was the crypto exchange Bitfinex CTO Paolo Ardoino, who asked Burry to ‘stop spoiling my movies’:
Meanwhile, Zhu Su, CEO of the crypto investment fund Capital of the three arrows, noted that Michael Burry, in his opinion, would be “max long bitcoin” if he was 22 today. “Age changes a man, and if he’s not careful, he grinds his teeth,” the crypto investor added.
The question about Burry’s crypto shorting came after the legendary fund manager and short seller earlier Wednesday called out the activity on some crypto-related Twitter accounts, saying “Crypto / Meme bots and pumps respond in large numbers to big accounts for promotion,” while adding:
“Deleting tweets makes him go back. Going Private allows tools to discourage them. But it is breathtaking, this religion of truths and falsehoods. Speculation probably exceeds anything in history.
While Burry suggests he may not know how the crypto market works, most in the crypto community know that there are a number of ways to sell cryptocurrency short, such as these 7 Ways to Short Crypto.
One of the more popular ways is to simply sell it short on one of the many spot crypto exchanges that offer margin trading, or sell a futures contract on a crypto derivatives exchange or on the Chicago Stock Exchange (CME), which tend to be more popular among institutional traders.
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