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 said a crypto collapse could "wreak havoc in ways we cannot yet anticipate."The White House's boosting of crypto is fueling speculation, it said in a letter.The letter questioned why the administration would embrace alternative reserve assets that threaten the dollar's role.

One of the most powerful hedge funds on Wall Street has reportedly criticized the Trump administration for helping drive a frenzy around cryptocurrencies that could ultimately harm investors.