“The Big Short” fame investor Michael Burry warned on Tuesday about the dystopian implications of tokenizing traditional stocks on blockchain.
A Dark Digital Future Ahead?
Burry responded on X to a report of the SEC preparing to launch a framework for trading cryptocurrency versions of popular Wall Street equities.
Burry, known for his contrarian views and accurately predicting the 2008 housing market crash, expressed deep pessimism over the development, predicting a “Snow Crash”-style future.
Snow Crash is a 1992 science fiction novel by Neal Stephenson that depicts a future dominated by hyper-capitalism and corporate enclaves, and where people spend much of their lives in a virtual reality world called “Metaverse.”
Burry warned that embedding “digital value” into everything will erode personal relationships and devalue humanity.
“This may be the point in time that needs to be stopped from going forward by some future being,” he added.