Wall Street expert plans big investments in cryptocurrencies

Well-known Wall Street trader Carl Icahn has expressed an intention to invest in cryptocurrencies.

US businessman Carl Icahn has changed his mind about cryptocurrencies and is looking for a way to enter the sector. In an interview with Bloomberg yesterday, the billionaire revealed that he prefers Ethereum to Bitcoin.

Icahn hinted at a possible large investment in cryptocurrencies of up to $ 1,5 billion.

He joins other heavyweights such as Ray Dalio, Stanley Druckenmiller and Paul Tudor Jones who have been attracted to the sector lately. Icahn described the development and growth of cryptocurrencies as a “natural manifestation” of today’s economy. Several investors are increasingly turning away from the dollar as they look for better ways to store value.

Icahn expressed concern about the current status of the dollar, stating that it appears to be losing value and could end up losing its hegemony status as a reserve currency. Icahn took pains to admit that he does not see himself as an expert in the field of the crypto industry.

The founder of Icahn Enterprises confirmed that he has not invested in the cryptocurrency sector so far, but would like to get into it. He turned against cryptocurrency slanderers who claimed that the assets were worth as much as the US dollar.

The billionaire cited taxes as an example of where the US dollar outperformed cryptocurrencies, since the value of the US dollar is in the payment of taxes. When asked what he thought of Bitcoin and Ether, he backed the latter currency as it offers more use cases. He argued that the two were different. The Bitcoin, in his opinion, is practical only as a store of value, while ether can be used as a store of value and as a means of payment.

When asked if he was considering entering one of the two cryptocurrencies, he replied that he wants to do so on a large scale.

I’m looking at the whole thing. I do not look at what you should necessarily buy at the moment. I’m just looking at the whole business and how I could get in on a relatively large scale with Icahn Enterprises, because I think it’s going to stay here in one form or another.“

He assured that with „relatively large scale“not meant to enter the market and trade crypto coins. When asked about his company’s investment in the venture, he replied: „… one billion dollars, one and a half billion dollars, like that […] But sometimes we go beyond that, sometimes it’s much less, so I’m not going to say anything specific.“

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