Now, wouldn’t you know it. Them fellers over at Elliott Management – a firm run by a fella named Paul Singer, who I reckon knows a thing or two about money, or at least thinks he does – are makinâ a right fuss about these here âcryptocurrencies.â Theyâre sayinâ itâs all cominâ down like a house of cards, a âinevitable collapseâ they call it. Seems mighty dramatic, don’t it?
And get this, they blame the White House! Specifically, theyâre pointinâ fingers at the Trump administration for lendinâ a bit o’ encouragement to this…well, this speculation. Seems a politicianâs nod is enough to inflate a bubble these days. Land sakes.
Is This the End of Digital Gold?
Theyâre frettinâ that if the government starts cozyinâ up to these digital whatsits, it might just knock the good olâ dollar off its perch as the world’s favorite money. Why, the very idea! Itâs like tradinâ a trusty mule for a runaway steam engine. A feller’s got to wonder if they’ve spent too long lookin’ at charts and not enough time countin’ actual greenbacks. đ€š
They claim that the prices of these crypto-thingamajigs jumped when Mr. Trump started talkinâ them up. Risky business, they say, for both the common investor and the economy as a whole. A collapse, they warn, could send ripples through the financial waters, makinâ a right mess o’ things.
Elliott, they’re sayin’ this ain’t no sensible investment. It’s pure speculation, fueled by hype and hope instead of solid ground. They havenât seen anything like it, these folks, not even in the wildest days of the railroad boom. Seems folks are chasinâ after these âmemecoinsâ – now there’s a name if I ever heard one – like gamblers at a poker table. Goodness gracious!
They reckon Mr. Trump’s loud endorsements and dabblin’ in ventures like World Liberty Financial and that TRUMP memecoin (a memecoin named after a president, no less! đ) gave the whole thing a veneer of respectability. Now, some folks on the other side of the aisle are complainin’ somethin’ fierce. Itâs a political ruckus, if ever there was one.
The Dollar in Danger?
Elliottâs warnin’ that all this could weaken the dollar- which, they say, would be âprofoundly dangerous.â Setting up a national reserve for these digital assets, they say, will further complicate things, dilutinâ the dollarâs power. Sounds like a right pickle to me.
They’re tellin’ investors to be careful, sayinâ too many are bettinâ on nothinâ more than wishful thinkinâ. Sound advice, if you ask me, though most folks tend to ignore sound advice until it’s too late. đ€·
Now, hereâs a twist. Even with them warnin’s, the prices of these cryptocurrencies went up on Wednesday! Bitcoin, that leading one, was tradin’ around $113,450. Seems the market doesnât listen to a thing sensible said. Imagine that!
And that GENIUS Act, signed by Mr. Trump, is supposed to help the dollar work alongside these âstablecoinsâ, and update the whole financial system. Wall Street giants like Morgan Stanley and JPMorgan are even lookinâ to get in on the action. So, it appears the Administration is makin’ some progress, though whether itâs progress towards prosperity or ruin, wellâŠthat remains to be seen.
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2025-09-11 10:19