Burry cautions that Bitcoin's rise to six figures indicates a speculative bubble disconnected from its true value.

Michael Burry's Criticism of Bitcoin: Michael Burry has intensified his criticism of Bitcoin, labeling it a speculative bubble disconnected from reality, and comparing it to historical bubbles like tulip mania. He argues that the normalization of Bitcoin's six-figure prices reflects a detachment from its underlying value.

Market Sentiment and Divergence: The discussion around Bitcoin's role in the financial landscape has grown, with JPMorgan's Jack Caffrey noting a disconnect between Bitcoin and gold prices, indicating investor confusion and uncertainty as year-end approaches.

Burry's Broader Market Concerns: Alongside his Bitcoin critique, Burry has expressed bearish views on other tech stocks like Nvidia and Palantir, and has raised alarms about a potential bubble in AI-related assets.

JPMorgan's Digital Asset Strategy: JPMorgan is advancing its digital asset strategy by introducing structured notes backed by Bitcoin ETFs and plans to allow institutional clients to use Bitcoin and Ether as collateral for loans by year-end.