Elliott Management has raised concerns about the Trump administration’s crypto support, calling it a potential threat to the US economy.
Elliott Management's Concerns
Elliott Management noted in a letter to investors that the rise in crypto values is unsupported by fundamentals and unsustainable. The firm highlighted the lack of regulation, posing a risk of a market crash.
Trump's Administration Role
The Trump administration is pushing for crypto support, a stark contrast to previous administrations. The government considers setting up a national Bitcoin reserve and promoting pro-crypto candidates for regulatory positions.
Global Economic Impact
Elliott Management warns that cryptocurrency promotion could undermine the US dollar as the global reserve currency and cause instability in global markets.
Elliott Management warns about the risks in the crypto market. Trump's administration's crypto involvement raises questions about the economic system's stability.
