Carl Icahn may Invest in Cryptocurrencies 'In A Relatively Big Way'

Kavya  |  May 27, 2021

Among wealthy investors who might invest in cryptocurrencies, famous Carl Icahn has suggested that his business may enter into crypto in a relatively big way.

Carl Icahn is Considering Investing in Cryptocurrencies

In an interview with Bloomberg Markets, the billionaire investor, founder, and controlling shareholder of Icahn Enterprises stated that though he does not own any crypto assets, his business may get involved in a "pretty substantial manner," adding that "crypto is here to stay in one form or another."

The 85-year-old businessman appears to be well-versed in his field. When asked if he regards cryptocurrency as a store of value or more of a payment mechanism or the "underlying blockchain," as is the case with Ethereum, Icahn responded:

“In the case of Ethereum, it is the underlying blockchain. So Ethereum has two functions: it can be used as a payment system and it can be used as a store of value.”

He went on to say that Ethereum and Bitcoin are not the same things, saying, "Bitcoin to me is just a store of wealth."

Getting into the Crypto Business

In a May 26 interview, Bloomberg Markets anchor Caroline Hyde asked Icahn if he could specifically invest in Bitcoin and Ethereum. He said that he is taking in the whole scene:

“I'm looking at the entire operation. I'm not looking at what to acquire right now; I'm simply looking at the whole business and how I may be engaged in it through Icahn Enterprises in a very large way. Because I believe it is here to stay in one form or another.”

When asked to describe the term "relatively significant manner," Icahn said, "Well, a huge way for us would not be to buy a few pennies or whatever," before going on to say, "I mean, a huge way for us would be a billion dollars, billion and a half dollars... I'm not going to mention anything specific.”

When asked to describe the term "relatively significant manner," Icahn said, "Well, a huge way for us would not be to buy a few pennies or whatever," before going on to say, "I mean, a huge way for us would be a billion dollars, billion and a half dollars... I'm not going to mention anything specific.”

Michael Saylor, CEO of MicroStrategy and a fellow investor, was quick to appreciate the gravity of the remarks and the guy behind them. According to Forbes, Icahn's net worth is predicted to be $15.6 billion as of May 2021.

Markets Are Once Again In Decline

At the time of publication, the bulk of crypto assets had fallen again, with losses in the previous 24 hours. Bitcoin had fallen 3.8% to $37,600, while Ethereum had fallen 4 percent to just under $2,700.

Huge investment from the likes of Carl Icahn, on the other hand, could easily dwarf the 'Elon Musk effect,' which has mainly dominated market mood in recent weeks and months.

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