‘Big Short’ investor Michael Burry says Tesla’s $1.5 billion bet on Bitcoin was a distraction – and Dogecoin’s record price signals a massive bubble

‘Big Short’ investor Michael Burry says Tesla’s $1.5 billion bet on Bitcoin was a distraction – and Dogecoin’s record price signals a massive bubble

Michael Burry questioned Tesla's bitcoin investment and sounded the alarm on Dogecoin's record price in a series of now-deleted tweets on Monday.

"Chinese regulators summon Tesla on quality issues as consumers complain about quality ... but $TSLA bought $BTC," the Scion Asset Management boss tweeted, using the tickers for Tesla and Bitcoin. "In my mind's eye, so much #digitalconfetti."

In other words, Burry thinks Tesla may have timed its $1.5 billion purchase of bitcoin to distract from its China troubles.

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Burry, whose billion-dollar bet on a US housing-market collapse was chronicled in Michael Lewis' book "The Big Short," revealed he was short Tesla in December. He poked fun at Tesla CEO Elon Musk and the fact his company's stock price has moved in tandem with bitcoin in another tweet on Monday.

"$TSLA and $BTC correlation coefficient is 0.951967 over the last six months," Burry said. "@elonmusk going for perfect unity? Nah, Elon dreams the impossible. He is determined to break unity. Correlation > 1. And he has history on his side. $TSLA and $BTC investors can make anything happen."

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