Former crypto skeptic Carl Icahn, the founding father of Icahn Enterprises, instructed Bloomberg he’s set to enter the crypto market in a “big way” — teasing an funding of round $1.5 billion.
Icahn is an investor and former advisor to the Trump administration who has a web price of $15.6 billion in accordance to Forbes. In 2018 Icahn instructed CNBC that crypto is “ridiculous” and added “maybe I’m too old for them, but I wouldn’t touch that stuff.”
However talking on May 26, Icahn defined he’s now contemplating a big funding and that coming into the market in such a way would “not be to buy a few coins or something”:
“I mean, a big way for us would be a billion dollars, billion-and-a-half dollars … I’m not going to say exactly.”
Icahn joins a growing list of fellow billionaires who have changed their tune over crypto in the past 12 months. When asked about what cryptocurrencies he has his eyes on, the billionaire kept his cards close to his chest and emphasized that:
“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 believes that cryptocurrencies that don’t at the least function a retailer of worth can be flushed out of the market as “there’s gotta be some form of safety of value there” to survive.
Icahn Enterprises is a $14.5 billion American conglomerate with investments in CVR, Pep Boys, and Trump Leisure Resorts.
— Michael Saylor (@michael_saylor) May 26, 2021
Ryan Adams, Ether proponent and founding father of crypto funding agency Mythos Capital and Bankless, speculated on Twitter that Icahn’s latest kite flying within the media, may point out 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 additional on his views about crypto to Bloomberg, saying he now thinks that skepticism over the worth of crypto is a “little wrong-headed,” as he questions the intrinsic worth of the U.S. greenback compared to crypto, which might be a retailer of worth and hedge in opposition to inflation.
Properly, what’s the worth of a greenback? The one worth of the greenback actually, is as a result of you need to use it to pay taxes.”
When Ichan was requested “what is your use case?” for crypto, the 85-year-old spoke in regards to the Ethereum community, noting that “with Ethereum it is the underlying blockchain. So, Ethereum has two issues: you need to use it as a fee system, you need to use it as a retailer of worth.
“Bitcoin to me is only a retailer of worth,” he added.