Hedge fund Elliott Management recently sent a letter to investors warning them away from crypto.
The Financial Timessaw the letterElliott sent to investors and detailed its dire warnings.
When it comes to the surge in reckless speculation across the markets, Elliot says crypto is ground zero.
Digital generated image of golden deflated balloon in shape of bitcoin sign lying down on purple background.© Andriy Onufriyenko via Getty stock images.
Crypto prices have boomed since Trump took office.
Bitcoin and just about everything else are going up.
People are minting memecoins left and right, doing rug pulls, and absconding with millions of dollars.
People are losing a lot of money, but other people are making a ton of money too.
And one of the big winners is President Trump.
Its made Trump and several other early investors very wealthy.
Latecomers will have a harder time seeing returns on their investment.
Trump has also teased making a federal Bitcoin reserve.
Then FTX collapsed, Sam Bankman-Fried was arrested, and it seemed like the market was finally done for.
But that didnt happen.
Instead, we entered a new wild-west era of memecoins and speculative shitposting.
Paul Singer, who runs Elliott, has long been an enemy of crypto.
News from the future, delivered to your present.
