Large US investor Carl Icahn has once again spoken out about cryptocurrencies. Like other former Bitcoin sceptics, he has changed his mind towards the new asset class and plans a potential 1 billion dollars investment.
Carl Icahn is one of the most successful investors on Wall Street. He ranks 124th on the Forbes list with an estimated 16 billion USD net worth. His primary investment vehicle is the publicly traded Icahn Enterprises. He also runs an investment fund, which is made up of his personal money and money from his company. Now, cryptocurrencies have piqued his interest.
So far, the US investor has not bought cryptocurrencies - in the past he was rather a sceptic. However, in an interview with Bloomberg, Icahn admitted that he is looking into Bitcoin, Ethereum and the entire crypto sector.
Carl Icahn, billionaire and previous #bitcoin skeptic, now says he ‘wants to get into crypto in a big way’
— Documenting ₿itcoin 📄 (@DocumentingBTC) May 26, 2021
The billionaire wants to enter the industry in a "big way" with Icahn Enterprises, investments could amount to more than 1 billion USD. Indeed, Carl Icahn is convinced that cryptocurrencies will play a big role in one form or another, and are here to stay.
Cryptocurrencies as a hedge against inflation
The investor sees today's monetary situation as the biggest catalyst for alternative currencies. He calls the growing popularity a "natural manifestation of inflation in the economy". That cryptocurrencies have no intrinsic value strikes Icahn as nonsensical and a weak criticism.
"Well, what is the value of a dollar? The only value of the dollar is that you can pay taxes with it." - Carl Icahn
He is apparently watching the entire crypto industry and looking for ways to get involved. According to Ican, another reason for the growing interest in digital assets is the fact that large portions of the market are trading at "ridiculous prices". He was referring not only to the so-called "meme stocks" but also to certain strategies offered by asset managers.
