Home Latest Billionaire Carl Icahn says he may drop up to $1.5B into crypto

Billionaire Carl Icahn says he may drop up to $1.5B into crypto

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Billionaire and head of Icahn Enterprises Carl Icahn said that he could make a large investment in crypto – over $ 1 billion or $ 1.5 billion.

According to Forbes, 85-year-old Carl Icahn is worth an estimated $ 15.6 billion.

In an interview with Bloomberg, the investor noted that he studies Bitcoin, Ethereum and digital assets in general. They are gaining popularity due to rising inflation, Icahn said.

According to the billionaire, Ethereum can be a payment system and store of value, while Bitcoin is only a store of value. Moreover, he noted that ETH is not so much a cryptocurrency as an entire ecosystem. Icahn warned that crypto that cannot fulfill this function will disappear. According to the head of Icahn Enterprises, if the cryptocurrency doesn’t perform the function of a safe-haven asset, then you cannot invest your savings in it. However, he also said that, in his opinion, cryptoassets “will stay with us in one form or another”.

The criticism of cryptocurrencies that they have no intrinsic value is partly devoid of logic, the investor believes. He noted that the value of the dollar lies only in the fact that they can be paid taxes.

At the same time, Icahn believes that it is too early to bury the dollar. It is currently the world’s leading currency.

“We have never bought crypto, but we study them”, said Icahn. He added that interest in digital assets is also growing amid stock market inflated prices. “Some stocks are simply absurd in terms of reward-to-risk ratios”, he said.

Changing attitudes towards crypto for the better

It’s interesting that in 2018, Icahn called cryptocurrencies “ridiculous,” suggesting that they were too old for them. In addition, he previously compared cryptocurrency to the Mississippi land bubble of the 18th century, but now he seems to be intrigued by the potential of the market.

Carl Icahn said that he had not previously bought cryptocurrencies, but now he is interested in bitcoin, ether and other digital assets. Although Ryan Adams, founder of crypto investment firm Mythos Capital and Bankless, believes that Icahn has actually already bought cryptocurrencies.

Earlier this year, co-founder of Oaktree Capital, Howard Marks, with a fortune of $ 2.1 billion, who previously spoke with disdain about Bitcoin, also changed the attitude towards cryptocurrencies for the better.

The interest of large investors in crypto remains despite the recent decline in markets. This week, cryptocurrency prices began to recover. Yesterday, the Bitcoin rate returned above $ 40,000, although it still hasn’t been able to gain a foothold above this level. Top altcoin rates are also growing: ETH reached $ 2,850, and BNB – $ 375.

Bridgewater Associates founder Ray Dalio recently revealed that he has invested in Bitcoin. According to him, the reason for this decision was the depreciation of the US dollar. It creates an attractive environment for investment in cryptocurrency.

However, many big financiers are still extremely negative about Bitcoin. For example, DoubleLine CEO Jeffrey Gundlach believes that BTC is a speculative instrument. According to this billionaire, cryptocurrency is a regular casino.

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