Gaming: That Dude From The Big Short Says Crypto Experienced A 'collateral...

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I'm writing about cryptocurrency again, which means bitcoin's either gone massively up in value, or it's in the middle of a, err, "significant downturn."

Well whaddaya know, it's the latter. The world's most headline-friendly cryptocurrency dropped in value below $70,000 per coin on Thursday for the first time since 2024, with its losses overall this year totalling more than 20 percent. The reasons why are complicated, but famous hedge fund manager Michael Burry has some ideas.

To understand what's happening here, I need to explain tokenised metals, so strap in. According to information I learned this morning (I have so little interest in crypto it's physically painful), tokenised metals are essentially blockchain representations of assets like gold, platinum and silver.

Source: PC Gamer