Following JPMorgan and Goldman Sachs jumping on the crypto bandwagon (favoring Ethereum over Bitcoin) another remarkable investor, Carl Icahn, has climbed on board.
While Carl Icahn, CEO at Icahn Enterprises, does not hold any digital currencies, he told Bloomberg Markets’ Caroline Hyde last Thursday that his firm would get involved in a “pretty substantial way,” adding that “crypto is here to stay in one form or another.”
As a natural reaction to inflation, people are going to look for other stores of value outside the dollar. The United States dollar is the reserve currency now, but it won’t stay that way for long if the current administration’s printing machine doesn’t get turned off.
Icahn Like ETH
When asked if he viewed cryptocurrency as a store of value, a payment method, or the underlying blockchain, as with Ethereum, Icahn replied that he viewed crypto as the underlying blockchain like with Ethereum.
Icahn explained further that Ethereum has two functions: it can be used as a payment system and it can also be used as a store of value. And it looks like the market lately feels the same way.
When asked if he was considering investing in Bitcoin or Ethereum by host Caroline Hyde of Bloomberg TV, Icahn responded that he was actually looking at the entire operation.
More Big Money is Warming Up to Crypto
Icahn signaled that he is not buying anything at the moment, but he’s rather looking at the entire business, and how Icahn Enterprises could get engaged in a significant way. Icahn recited a particular phrase: ‘in one form or another, I believe crypto is here to stay.”
Hyde wanted Icahn to explain what he meant by ‘significant’ engagement, putting some pressure on him for a dollar figure. At that point of the interview Icahn revealed that his firm’s investment would round the billion or billion and a half dollars, but preferred not to get specific.
