{"id":469721,"date":"2021-08-20T16:00:00","date_gmt":"2021-08-20T16:00:00","guid":{"rendered":"https:\/\/wncen.com\/?p=469721"},"modified":"2021-08-20T13:43:15","modified_gmt":"2021-08-20T13:43:15","slug":"bitcoin-bull-attracts-big-short-michael-burry","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-bull-attracts-big-short-michael-burry\/","title":{"rendered":"Bitcoin Bull Cathie Wood Attracts Big Short Michael Burry To ARK Innovation ETF"},"content":{"rendered":"
After overcoming the subprime mortgage catastrophe, Michael Burry now sets his sights on ETF ARK\u2019s flagship invention from Bitcoin Bull Cathie wood, which finances companies like Square, GBTC, and Tesla.<\/p>\n
The \u201cBig Short Movie\u201d lead character Michael Burry takes a major temporary stand against ARK, the ETF innovation of Cathie Wood.<\/p>\n
As stated by second quarter 13 fillings, Michael Burry\u2019s investment fund \u201cScion Asset Management\u201d bought up to $31million bearish put options against the ETF 235,000 shares. The best way to profit when there is a decrease in the fund or stock value is through “PUT” options.<\/p>\n
ARK’s largest fund, Innovation ETF, is financed with $22.62 billion in assets. Its purpose is to finance various troublesome tech companies such as Coinbase, Square, Grayscale Bitcoin Trust, and Tesla. According to the second quarter 13 filings, other firms apart from Bury have also reduced the ARK’s flagship funds.<\/p>\n