Billionaire Carl Icahn says he can invest up to $ 1.5 billion in cryptocurrencies

The old cryptocurrency skeptic Carl Icahn, founder of Icahn Enterprises, told Bloomberg that he is ready to enter the cryptocurrency market “on a grand scale”.and has announced an investment of approximately $ 1,500 million.

Icahn is an investor and former adviser to the Trump administration who, according to Forbes, has a net worth of $ 15.6 billion. In 2018, Icahn told CNBC that cryptocurrencies were “ridiculous”, adding that “I might be too old for them, but I wouldn’t touch these things”..

But on May 26th 2021, Icahn stated that he was now considering a big investment and that entering the market this way “wouldn’t mean buying a few coins or anything”.::

“I mean, a big way for us would be a billion dollars, a billion and a half … I’m not going to be specific.”

Billionaire Carl Icahn says he can invest up to $ 1.5 billion in cryptocurrencies
Billionaire Carl Icahn says he can invest up to $ 1.5 billion in cryptocurrencies

Icahn joins a growing list of fellow billionaires who have changed their minds about cryptocurrencies in the past 12 months. When asked which cryptocurrencies he is interested in, the billionaire held his cards close to his chest and emphasized:

Much of the cryptocurrencies issued today are not going to survive, but we believe that cryptocurrencies in one form or another could stay here. To be clear, we’ve never bought cryptocurrencies, but we’re studying them. “????

Icahn believes that cryptocurrencies that do not at least serve as a store of value will be pushed out of the marketas “there has to be some form of security of value there” in order for them to survive.

Icahn Enterprises is a US conglomerate with sales of $ 14.5 billion and investments in CVR, Pep Boys and Trump Entertainment Resorts.

Ryan Adams, Ether defender and founder of the cryptocurrency investment firm Mythos Capital and Bankless, speculated on Twitter about it Icahn’s recent statements in the media could indicate that he has already done so enteredIn the crypto market::

If Carl Icahn hasn’t bought a billion dollars in ETH and BTC yet, why should he announce that he is about to buy a billion dollars in ETH and BTC?

The billionaire expanded his views on cryptocurrencies on Bloomberg and said so Now the skepticism about the value of cryptocurrencies is a little wrong as it questions the intrinsic value of the US dollar versus cryptocurrencies which could be a store of value and a hedge against inflation.

“Well what is the value of the dollar? The only value of the dollar is that you can use it to pay taxes. “????

When Ichan was asked “What is your use case?” In the case of cryptocurrencies, the 85-year-old talked about the Ethereum network and noticed this “Ethereum is the underlying blockchain. So Ethereum has two things: you can use it as a payment system and as a store of value.”.

“For me, Bitcoin is just a store of value”, he added.

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