A leaked Elliott Management letter to investors reveals the hedge fund’s managers fear Trump is stoking a unprecedented bitcoin price bubble that’s headed for “inevitable

Elliott Management wrote that White House policy is fueling a speculative crypto bubble that will eventually "wreak havoc."

The Trump administration’s embrace of cryptocurrencies is helping fuel a speculative mania that could cause “havoc” when prices collapse, the hedge fund Elliott Management has warned. The $70bn-in-assets firm took aim at the US government’s apparent enthusiasm for assets that have soared in price but have “no substance”,