Michael Burry warns of bankruptcy risk for firms holding BTC

Michael Burry, the investor famed for "The Big Short," has warned that the risk extends beyond a simple Bitcoin price drop to a potential chain reaction of bankruptcies among companies with large BTC holdings, which could trigger a systemic crisis in the broader financial market. According to Walter Bloomberg, Burry noted that Bitcoin has lost its function as digital gold and could drive its corporate holders into bankruptcy, causing ripple effects throughout the market.