Billionaire Carl Icahn shared his plans to join the crypto market “in a big way”, making an investment of more than $ 1 billion, as reported by Bloomberg.
Icahn has not yet acquired cryptocurrencies but is looking into Bitcoin, Ether, and similar virtual assets in general. According to him, the growing popularity of cryptocurrencies is a natural result of inflation in the economy. Meanwhile, remarks that cryptocurrencies have no innate value are “kind of bereft of logic,” Icahn added:
“What is the innate value of the US dollar? The dollar is only appraised because it can be deducted in tax. I look at the whole business and how I could get engaged in it through Icahn Enterprises on a comparatively large scale. I am not considering what needs to be bought just for now”.
“Some cryptocurrencies circulated today will not persist, but we imagine that cryptocurrencies can linger in one form or another. Not to be misunderstood – we have never been invested into cryptocurrencies, but we are currently studying them”.
When questioned what he meant by “a big way”, Icahn declared:
“Big for us is not just buying a few coins or anything like that. I do not believe in the so-called market trading. We mean $ 1 billion, $ 1.5 billion, something of this magnitude on a large scale. I think this might be big for us. But occasionally we invest more, occasionally much less, so I can’t be exact”.
Icahn believes that interest in cryptocurrencies is, among other things, generated due to the “absurd prices” in the stock market. According to Forbes magazine, the 85-year-old Icahn, who acted as an adviser to the Trump administration, is worth $ 15.5 billion.
