Michael Burry states that Bitcoin's drop could trigger a $1 billion gold and silver sell-off.

[BudKnows]

I just read an article about Michael Burry’s recent statement of the current BTC price drop could have a huge negative effect beyond crypto. Arguing that leveraged positions and forced liquidation may have already caused up to one billion gold and silver selling, as investors selling other assets to cover crypto losses with the current market situation questioning Bitcoin's role as a safe haven, and suggesting deeper declines could raise stress across digital assets and conventional markets.

I would like to read everyone's opinion on this .

 

[JohnnyDoe]

Gold's crash last week wiped out over $3 trillion from the value of all the gold now estimated to be above ground.
The whole crypto market is worth $2 trillion, it's still in its infancy.

Btw, $1bn has an impact of about $50 on btc price. On gold, about $0.15 per oz, or 0.003%. So I don't really understand what Michael Burry is talking about.

 

[Paratore]

Money flows into and out of assets and causes price action. It’s all linked. The price of Bitcoin, gold, equities, real estate, etc. in dollars or euros is a symptom of something, not the something itself. Bitcoin is more integrated into traditional financial systems than ever before. It is not surprising to see linkages start to develop.

If it goes down enough, I buy. Like always.