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Billionaire Carl Icahn Shows Interest in Crypto, Plans to Enter Market in ‘Big Way’ with Up to $1.5B

UTC by Ibukun Ogundare · 3 min read
Billionaire Carl Icahn Shows Interest in Crypto, Plans to Enter Market in ‘Big Way’ with Up to $1.5B
Photo: Oscar Thompson / Flickr

Carl was once a crypto cynic. During an interview with CNBC back in February 2018, he believed crypto to be ridiculous and mentioned that he would not invest in them.

American businessman Carl Icahn has been paying close attention to crypto and says he could hugely invest in digital assets. The billionaire insinuated that he could put as much as $1.5 billion into crypto. He believes that the ongoing complications the digital currency is facing are for a limited time.

Carl Icahn Interested in Crypto

In a recent interview with Bloomberg, the founder of Icahn Enterprises disclosed that he has been studying Bitcoin, Ethereum, and the entire crypto space to discern where the golden opportunity is. He believes that the crypto space, if anything, will serve as a store of value. Icahn also believes that the attention digital currencies have gained is clear evidence of inflation in the economy.

Speaking further, Icahn talked about the constant criticism cryptocurrencies face and now believes is a “little wrong-headed.” At the same time, the businessman also questioned the value of the dollar. He stated the only importance of dollars. According to him, the use of the US dollar for the payment of taxes. Icahn explained:

“I’m looking at the whole business. I’m not looking at what to buy necessarily at this time. I’m just looking at the whole business and how I might get involved in it with Icahn Enterprises in a relatively big way, because I do think it’s here to stay in one form of another.”

Notably, institutional adoption of crypto is on the rise. Despite the major decline in the price of Bitcoin and altcoins, MicroStrategy recently added $10 million worth of Bitcoin to its portfolio. The company began its BTC acquisition in August last year and now holds a total of 92,079 Bitcoins as of the 18th of May.

The founder of crypto investment firm Mythos Capital and Bankless, Ryan Adams, commented on Icahn’s new interest in crypto. Adams said that it is likely that Carl Icahn had already invested in cryptocurrency. He said:

“If Carl Icahn hasn’t already bought a billion dollars worth of ETH and BTC why would he announce he’s about to buy a billion dollars worth of ETH and BTC.”

Icahn: Bear to Bull

Carl was once a crypto cynic. During an interview with CNBC back in February 2018, he believed crypto to be ridiculous and mentioned that he would not invest in them. Warren Buffett, a billionaire investor also had a similar opinion. Buffett said that the recent buzz around Bitcoin and other cryptocurrencies will not have a happy ending.

Icahn joined the ever-growing list of billionaires whose view about cryptocurrencies has changed in the past year. The adoption of cryptocurrencies among prominent investors has been on the rise. Some are leveraging on the crypto fall to acquire more assets, bullish that the crypto market will rebound.

Altcoin News, Bitcoin News, Business News, Cryptocurrency news, Investors News
Ibukun Ogundare

Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience. Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.

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