The well -known radical investor Elliott manager sent a letter to investors to warn the President Donald Trump President of Donald Trump.
This letter was originally a reason Financial TimesWarn investors, the "inevitable collapse" of encrypted bubbles "may cause serious damage in a way we can't predict." Elliott also warned that the White House's embrace of cryptocurrencies will weaken the US dollar worldwide The role of the economy has weakened its role as the world's main reserve currency.
Elliott said in the letter that the scale of encrypted protein bubbles and its risks to investors, as well as recently increased economic risks because of its "distance from the White House".
Eliott refused to comment. The White House did not immediately respond to the request of the comment.
During the campaign, Trump regularly announced its support for cryptocurrencies and hoped to see the United States the main country in the industry. The president also participated in a number of cryptocurrencies, including the World Freedom Financial of the Crypto Platform, and launched its own members. In addition, his media company announced earlier this week the plan to develop fintech services, which will allow digital assets to trade.
Since Trump won the election in November, the encrypted prices have soared with the industry and the US market -related stocks. Just a few days after taking office, Trump signed an administrative order and began the process of creating a national digital asset reserve.
Elliott said that it "has never seen such a market", and so many investors are purely based on speculative speculation to invest funds into the market. Elliott also warned that it believes that it does not think that there is no substantial speculative asset prices rising. This category of assets (including Memecoins) does not have basic value, and only by the hope of investors, they will be able to find others who will pay for it.
Elliott wrote in the letter that the "encryption to zero" of these speculative assets.
Elliott believes that this makes the investor group drive cryptocurrencies. But many of them just hope that the market will continue to rise. The letter wrote that they "behaved like a group of sports shots."
However, encrypted bubbles will not only bring risks to individual investors. If the foam is popular, they may eliminate the risk of investment. Elliott said that the support for cryptocurrencies in the White House, especially the efforts to create national reserves, will damage the US dollar. "Very dangerous."
Elliott is no stranger to the dynamics of the good market. The company is a powerful radical investor founded by Paul Singer and is often carried out in the extension of the board of directors. As an aggressive investor, Elliott often determines the company with poor performance and believes that it can correct the ship.
The company even adopted a similar posture to the government. In Argentina, the most memorable thing is that it has a 15 -year legal struggle with the government because one of the country's creditors is debt payment. Eliott finally reached a reconciliation of $ 2 billion with the Argentine government.
This story originally appeared on Fortune.com