According to what was stated, the higher box warns of the collapse of “inevitable” encryption.
- Elliott Management said that the collapse of the encryption could “enhance ruin in ways we cannot expect yet.”
- He said in a message that the strengthening of the White House for encryption is speculative.
- The message asked why the administration embraced alternative backup assets that threaten the role of the dollar.
The Trump administration wrote that cryptocurrencies ride the speculative mania heading into a dramatic collapse, and only helps the Trump administration to amplify the bubble. Financial times.
A message from the hedge fund of $ 70 billion is placed in conflict with Washington’s embrace of encryption, and a warning of the potential consequences of the stability of the market and the dominance of the US dollar.
According to the message, the current market scene is not different from anything else. Investors “behave like a crowd of sports betting”, with widespread speculation of clear assessments that invest in artificial intelligence and investment in stocks.
Elliott wrote, at the heart of this increase in risk, with speculators who were encouraged by the in -depth relationship of the industry with the White House. Since the inauguration of Donald Trump, the president has installed the organizations of an industry friend The executive order signed Enhancing digital assets.
Trump’s campaign returns further, and investors are preparing for more policies that will come this year. Bitcoin 38 % gathered since the election day, while some altcoins It rose much higher.
Elliot said that despite the increase in value, these assets are “no substance.” The hedge fund is preparing for the “inevitable breakdown” of the sector, which “can spoil in ways we cannot expect yet.”
The message also highlighted Greenback’s dominance as a global backup currencyHe asked about the idea that Washington should go towards alternative reserves. After all, other countries are already diversifying away from the dollar.
This is effectively up to rejection Bitcoin National ReserveThe policy recommendation that would direct the government to buy and preserve the pioneering symbol as a hedge against inflation.
Elliott Management did not immediately respond to the Business Insider request for comment.
Fund founder, Paul Singer, criticizes encryption for years. In 2018, the assets were called one of the assets Most wonderful fraud operations In history.
The company’s view of the growing enthusiasm of Wall Street contradicts digital assets. While some, like the billionaire investor David Einhurn, too, too Considering the encryption with doubtsThe institutional demand for digital assets acquired more and more traction.
According to Standard Chartered, this should help pay Bitcoin About $ 200,000 By the end of the year. It is also expected that you will win the other altcoins, especially if Trump’s policies are launched. Mim Queen Paul Ran.
