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Bitcoin briefly hits $82,000, SOL, DOGE higher as Michael Burry warns of stock crash
Bitcoin held above $81,000 after touching $82,026 overnight, while solana led the major altcoins on the week as The Big Short investor warned the Nasdaq 100 had reached dot-com bubble territory and oil zoomed past $105 on fresh Iran ceasefire doubts.
May 12, 2026, 4:32 a.m. 2 min read
What to know:
- Major cryptocurrencies, including bitcoin, largely held their gains near record levels even as global equity markets and other risk assets came under pressure.
- Investor Michael Burry warned that tech and AI-related stocks are in a parabolic, overvalued phase, urging investors to take profits as semiconductor shares and the Nasdaq 100 trade at stretched valuations.
- Rising oil prices, higher Treasury yields and renewed U.S.-Iran tensions, along with a key U.S. inflation report due Tuesday, threaten to test the recent rally in both equities and crypto markets.
Investor Michael Burry, made famous in The Big Short for calling the 2008 housing collapse, warned in a Substack post that the Nasdaq 100 is trading at 43 times earnings, well above the implied level of around 30 times, and likened the current setup to “the scene of the bloody car crash, minutes before it happens.”
Burry flagged the Philadelphia Semiconductor Index’s 70% rally since the end of March as the centerpiece of what he called a parabolic surge in tech valuations, advising readers to take profits and reduce exposure to the AI trade.
“Wall Street may be overstating by more than 50% the earnings at our fastest growing, most highly valued companies,” Burry wrote.
