'Big Short' investor Michael Burry warns the 'mother of all crashes' is coming - and predicts crypto and meme stocks will plummet

• Michael Burry predicted meme stocks and cryptocurrencies will plummet.
• "The Big Short" investor warned the "mother of all crashes" is coming.
• Burry pointed to excessive leverage as a major problem for crypto.

Casual investors buying meme stocks and cryptocurrencies are signing up for devastating losses, Michael Burry warned on Thursday.

"All hype/speculation is doing is drawing in retail before the mother of all crashes," the investor $4. "When crypto falls from trillions, or meme stocks fall from tens of billions, #MainStreet losses will approach the size of countries."

Burry added that people's fear of missing out has propelled asset prices to unsustainable levels. "#FOMO Parabolas don't resolve sideways," he cautioned.

The Scion Asset Management boss also sounded the alarm on crypto fans $4 to buy their favorite coins.

"The problem with #Crypto, as in most things, is the leverage," he $4. "If you don't know how much leverage is in crypto, you don't know anything about crypto."

Burry $4 this week after $4 in April. He's previously used the social-media platform to $4 about Tesla - $4 - as well as GameStop, bitcoin, dogecoin, Robinhood, inflation, and the wider stock market.

The Scion chief has attracted a cult following since he anticipated the housing-market crash that precipitated the global financial crisis. His billion-dollar bet against the bubble was chronicled in the book and the movie "The Big Short."

Burry also helped $4 for the GameStop short squeeze in January, which kicked off the meme-stock boom. He bought a stake in the video-game retailer in 2019 and wrote several letters to its board, emboldening retail investors to bet on the stock.

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