Elliot Management, a well -known hedge box led by Paul Singer, recently raised the red flag on President Donald Trump’s support for encrypted currencies, according to BSCN. According to the company, his pro -Crypto’s position can lead to great damage to the economy when the encryption bubble collapses.
Elliot Management
Elliot Management had a negative idea about the encryption industry and was described as “one of the most fraud in history” in the 2018 letter was sent to customers. The message also questioned the long -term ascending capacity. Through the current political positions, the company is currently afraid that if the industry continues to obtain this huge support from the government, especially from a person like Trump, this may lead to an increase in investments based on speculation rather than financial analysis.
Anxiety about the support of the ruling from the encrypted currencies
According to the administration company, when someone supports the president and supports the cryptocurrency, people may think it is a good investment because President Trump supports him, and he will end up investing a large amount in the market. This will lead to high prices of symbols and the establishment of a bubble, and if the bubble explodes, many people may suffer from huge losses and may destabilize the financial markets and affect investors worldwide.
The domination of the dollar
The company is also wondering why the United States government encourages alternatives to the dollar, given its huge advantage as a backup currency in the world. The company indicated that this support by politicians can eat the domination of the dollar and disrupt financial stability.
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