A letter leaked from Elliott Management, one of Wall Street’s largest investment funds, reveals that the company’s managers are deeply concerned about the impact of Donald Trump’s support on Bitcoin prices. Following Trump’s victory in the US presidential election and news about his plans to develop digital currencies in the White House, Bitcoin prices soared to over $100,000, showing a twofold growth compared to last year. According to the Financial Times, Elliott Management managers believe that this support could lead to an unprecedented bubble formation and its potential collapse could have unpredictable and disastrous consequences for the digital currency market and financial markets. They have compared investors’ behavior to sports bettors due to the rise of artificial intelligence and high stock market values, stating that they have never seen such a market before.
