Michael Burry’s Support for Bitcoin in Philanthropy
Michael Burry, best known for his prescient forecast of the 2008 financial crisis, has recently made headlines by supporting a philanthropic initiative that utilizes Bitcoin. Utilizing his social media platform under the username Cassandra Unchained, Burry highlighted the initiative to accept cryptocurrency donations for Little Wishes, a nonprofit focused on fulfilling wishes for severely ill children in hospitals.
“Bitcoin for Little Wishes is a good use of $BTC,”
showcasing a potential beneficial application for the digital currency.
About Little Wishes
Founded in 2003, Little Wishes has an impressive history of fulfilling over 36,000 wishes for children across 46 medical facilities throughout the United States. The organization provides a range of desires, from small gifts to experiences that provide comfort to children facing critical health issues. In light of inquiries surrounding crypto donations, Little Wishes confirmed that supporters could conveniently donate Bitcoin via a dedicated feature on Every.org.
Bitcoin’s Role in Charitable Giving
While Bitcoin often faces criticism for its price fluctuations and speculative nature, Burry’s endorsement illustrates a different angle of its utility, particularly in charitable giving. By embracing Bitcoin, Little Wishes aims to attract a broader donor base, including younger, tech-oriented individuals who may be more inclined to use cryptocurrency instead of conventional payment methods.
Burry’s Evolving Perspective on Bitcoin
Although Burry has been an outspoken critic of Bitcoin, recently labeling predictions of its price reaching $100,000 as “the most ridiculous thing” and likening it to the historical Dutch tulip bubble, his latest post suggests an intriguing shift. He has previously voiced concerns about the risks associated with leverage in the cryptocurrency market. Nevertheless, his endorsement of Bitcoin for a charitable cause indicates a nuanced view, possibly indicating he is reconsidering some aspects of the cryptocurrency’s role.
