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One of Wall Street's Most Successful Investors Is Considering a $ 1.5 Billion Cryptocurrency Investment

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American businessman and former cryptocurrency skeptic Carl Icahn is considering entering the cryptocurrency market in a "relatively large way," prompting an investment of "a billion dollars, a billion and a half ”.

In 2018, the activist investor called cryptocurrencies "ridiculous" during an interview with CNBC, and added that "Maybe I'm too old for them, but I wouldn't touch those things." Icahn has also previously compared cryptocurrencies to the terrestrial bubble of the 18th century.

But speaking to Bloomberg on May 26, he expressed great interest in cryptocurrencies.

“I'm looking at the whole thing. I'm not looking at what to necessarily buy at the moment. I'm just looking at the whole business and how I could get involved in it. "

Icahn joins other prominent financial bigwigs who have reconsidered their previous dismissive stance on cryptocurrencies in recent months, including Oaktree Capital Group co-founder Howard Marks, MicroStrategy's Michael Saylor and Dallas Mavericks' Mark Cuban.

Icahn prefers Ethereum over Bitcoin

The 85-year-old founder of Icahn Enterprises further claimed that cryptocurrencies are here to stay. However, it warns that many cryptocurrencies issued today will not survive.

“I will say about cryptocurrencies… I don't think there are many survivors operating today. I think there has to be some way to really feel that there is security and value there. "

When asked about his use case, the billionaire cited the Ethereum network, arguing that the world's second-largest cryptocurrency can function as both a store of value and a payment system:

“With Ethereum, it is the underlying blockchain. So Ethereum has two things: you can use it as a payment system, you use it as a store of value. "

In other words, Icahn believes that ethereum and bitcoin are very different. For him, the leading cryptocurrency is "Just a store of value."



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