Bitcoin and Crypto have more and more through the victory of the US presidential elections of Donald Trump, reached through the multimillionaire of Tesla, Elon Musk, the revealed plans of Crypt at the White House.
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The bitcoin value higher than more than $ 100,000, more than 12 months of dollars of dollars of dollars of dollars of gold.
Now, although a very observed commercial warning is opposed to an imminent “financial crisis”, an Elliott’s control letter revealed to investors shows that the managers of the coverage fund fear that Trump does a unprecedented bitcoin bubble that is directed towards “An inevitable collapse. “
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Elliott Management, one of the world’s largest activist funds, has warned the “inevitable collapse” of the crypto bubble “could wreak havoc in ways we cannot yet anticipate” in an investor letter seen by the Financial Times that criticizes politicians who are supportive of cryptocurrencies that could eventually become rivals to the U.S. dollar.
“Crypto is the zero zone”, according to the letter, in component due to the “perceived proximity of Bitcoin and crypto to the White House” after Trump’s elections, his new for Bitcoin and Crypto, and his internal circle that has been in love with technology.
Last week, Trump followed up on his promised crusade to get crypto policy overhaul one of his administration’s priorities, ordering the creation of a crypto task force to propose new and explore the creation of a national crypto stockpile.
Trump Crypto and Synthetic Intelligence The Tsar, David Sacks Venture Capital, will preside over the group, with bags, a first investor in the rival of Ethereum Solana, will assign Renard’s affairs that Trump’s movements have shown that he followed his promise to make the United States . The “Capital of Crypt” of the world, anything Trump also told the participants of the World Economic Forum in Davos.
In July, then Republican candidate Donald Trump promised to create a “strategic national bitcoin reserve” and predicted bitcoin could eclipse gold’s $16 trillion market capitalization during an appearance at the Bitcoin 2024 conference.
On the weekend before his inauguration, Trump launched a memecoin, followed closely by his wife Melania launching one of her own, both of which surged to multi-billion dollar valuations before crashing back.
Elliot budget managers “have never noticed a market plaque like this,” they wrote, referring to the speculative frenzy to surprise monetary market plates and add the rise of synthetic intelligence and higher tests of market movements of market Market are symptoms of investors “acting as a host as a host as a host like a host. of sports nonsense. “
The letter also warned US officials that for the “marginalization of the dollar” is “deeply dangerous” and can deprive the United States of their “immense advantage” derived from the position of the dollar as a global reserve currency.
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The bitcoin price has shot to an all-time high of almost $110,000 per bitcoin in the aftermath of … [+] Donald Trump’s election victory.
Mudding the Waters, the FT singled out Elliott founder Paul Singer for the Republican Party and his $56 million donation to conservative applicants in the 2024 election cycle, adding a $5 million gift to the “Make America Again” committee.
In an interview with Grant Williams earlier this month, Singer pointed to the explosive growth in crypto assets as a prime example of irrational investor activity. “People try to be rational and think that they’re rational, but quite frequently they’re not,” Singer said. “And there is hardly a better example today than cryptocurrencies.”
In 2023, Singer told the Wall Street Journal that Bitcoin and cryptocurrencies were “completely missing in value”, with the value of Bitcoin for less than $ 30,000 at that time.
“There are thousands of cryptocurrencies,” Singer told The Journal. That’s why they’re zero values. Anyone can make one.
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