Carl Icahn Considers Investing Up To $1.5B Into Crypto

Carl Icahn, the well-known billionaire, considers investing $1.5 billion in crypto noting that much of the crypto issued today will not survive as we can see more in our cryptocurrency news today.

Former crypto skeptic Carl Icahn and founder of Icahn Enterprises said that he is set to enter the crypto market by investing $1.5 billion in crypto. Icahn is an investor and former advisor for the Trump Administration who has a net worth of $15.6 billion and in 2018 he told CNBC that crypto is ridiculous and added that maybe he is too old for it and will not touch this stuff. Speaking recently, however, Icahn explained that he is considering a huge investment and that entering the market in this manner will not mean he is going to buy a few coins only:

“I mean, a big way for us would be a billion dollars, billion-and-a-half dollars … I’m not going to say exactly.”

Maybe @Carl_C_Icahn will be the first #Bitcoin Terachad 👀 https://t.co/y8jjT0xTPh

— Michael Saylor (@michael_saylor) May 26, 2021

Icahn joined a growing list of billionaires that changed their tune over crypto in the past year and when asked about what crypto’s he has his eyes on, he said:

“Much of the cryptocurrency issued today will not survive, but we believe cryptocurrency in one form or another might be here to stay. To be clear, we have never bought any cryptocurrency, but we are studying it.”

Icahn thinks that cryptos that don’t last will serve as a store of value and will be deleted off the market as there’s gotta be some form of the safety of value in order to survive. Icahn Enterprises is a $14.5 billion conglomerate with investments in Pep Boys, CVR, and Trump Entertainment Resorts. Ryan Adams who is an ETH proponent and founder of crypto investment firm Mythos Capital as well as Bankless said that Icahn’s recent crypto entry in the media could indicate that he has already entered the market:

“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.”

The billionaire expanded even further on his views on crypto saying that he now thinks that skepticism over the value of crypto is “wrong-headed” as he questioned the value of the US Dollar compared to the crypto which will be a store of value and hedge against inflation:

“Well, what’s the value of a dollar? The only value of the dollar really, is because you can use it to pay taxes.”