American-born billionaire Carl Icahn plans to invest $ 1 billion in cryptocurrencies. Among the options studied by the businessman are bitcoin and ether.
The investor offered these statements to Bloomberg TV on May 26. In his opinion, the fact that altcoins are gaining popularity is a natural response of people to inflation in the economyadded.
During his presentation he noted the following: “Any criticism of the cryptocurrency that does not have an underlying value is a bit wrong,” said Icahn.
What is the value of a dollar? The only value of the dollar is that it can be used to pay taxes. I’m looking at the whole business and how I could get involved with it through Icahn Enterprises on a relatively large scale.
Carl Icahn, businessman.
Icahn was asked what he meant by “large scale.” To which the billionaire responded in this way: “The big thing for us is not buying a few coins or something. On a large scale for us, it’s 1 billion, 1.5 billion, something at this level will be big for us. But sometimes we invest more, sometimes a lot less, so I won’t say for sure. “
Icahn chooses between a payment system and a store of value
Icahn made a comparison between bitcoin and ether. He took the opportunity to highlight that this latest cryptocurrency can play the role of a payment system and a store of value. On the other hand, consider that bitcoin’s possibilities are limited only to being a store of value.
In this regard, he added that the cryptocurrencies that cannot perform the value reserve function will be forced to leave the market, since they will not be able to guarantee the reliability of the investments.
The billionaire said: “Many cryptocurrencies issued today will not survive, but we believe that cryptocurrencies can remain in one form or another. To be understood correctly, we have never bought cryptocurrencies, but we are studying them.
According to billionaire Carl Icahn, cryptocurrencies that cannot perform the store of value function will be forced to leave the market. Source: Twitter.
According to the billionaire, people look for alternative currencies
Icahn also said that he believes people are looking for altcoins because part of the stock market shares are traded at “ridiculous prices.” He not only referred to the ones that are rising as the so-called meme actions, but also to certain strategies that money managers offer.
The billionaire, whose net worth as of 2016 was estimated at $ 17.2 billion, added that he doesn’t think Reddit and Robinhood and those guys “are necessarily bad.” “I think they have a purpose,” Icahn said. “The money is channeled to the companies. Some of these companies may be fine, but in some of them, the risk-reward is absurd. “
More billionaires invest in bitcoin and ether
Other billionaires have also made their cryptocurrency investments public, as recently revealed through CriptoNoticias, Mark Cuban, owner of the Dallas Mavericks. The also co-host of Shark Tank, said in April 2021, that his investment portfolio is made up of 60% bitcoin and 30% ether.
The same has done, Kevin O’Leary who also appears in this television reality, announced that invested 3% of its portfolio in bitcoin even though he had called the cryptocurrency “junk” less than two years ago.
O’Leary, also known as “Mr. Wonderful », made the announcement on March 1, 2021 through his Twitter account where he said the following: «Is Bitcoin a currency? An active? Perhaps all of the above. I go with an allowance from my portfolio of 3%. I’m also looking to invest in miners that can create 0 carbon mandated coins. ‘
For his part, billionaire David Rubenstein also recently injected resources into bitcoin, despite the drop in its value, as published by CriptoNoticias.
At the time of writing, the price of bitcoin is $ 39,740, which represents a 2.64% increase in the last 24 hours.