Michael Burry warns that a sharp drop in Bitcoin could trigger a $1 billion gold and silver sell-off

Michael Burry, the 'big bear', warns that a significant drop in Bitcoin could lead institutional investors and corporate treasuries to sell up to $1 billion in gold and silver to offset losses in cryptocurrency assets. He believes that Bitcoin's drop below $73000 exposes its underlying fragility, and if the price further drops to $50000, some mining companies may face bankruptcy risks. Burry pointed out that Bitcoin has not successfully played the role of a digital safe haven asset or gold substitute, and the recent rise driven by ETFs is more inclined towards speculative behavior.