HOME CATEGORIES WRITE AND EARN 🔍
CATEGORIES WRITE AND EARN MORE

CRYPTO NEWS

Your favorite crypto news blog

One Of Wall Street’s Most Successful Investors Is Mulling A $1.5 Billion Crypto Investment

Crypto 2021/05/27 16:05 by Brenda Ngari
One Of Wall Street’s Most Successful Investors Is Mulling A $1.5 Billion Crypto Investment

American businessman and former cryptocurrency skeptic Carl Icahn is considering entering the cryptocurrency market in a “relatively big way” — teasing a “billion dollars, billion-and-a-half” investment.

In 2018, the activist investor called cryptocurrency “ridiculous” during an interview with CNBC, adding “maybe I’m too old for them, but I wouldn’t touch that stuff.” Icahn has also previously compared crypto to the 18th century land bubble.

But speaking to Bloomberg on May 26, he expressed a keen interest in crypto.

“I’m looking at the whole business. I’m not looking at what to buy necessarily at this time. I’m just looking at the whole business, and how I might get involved with it.”

Icahn joins other prominent financial big shots who have reconsidered their previous dismissive stance on crypto in recent months, including Oaktree Capital Group co-founder Howard Marks, MicroStrategy’s Michael Saylor, and Dallas Mavericks’ Mark Cuban.

Icahn Prefers Ethereum Over Bitcoin

The 85-year-old founder of Icahn Enterprises further asserted that cryptocurrencies are here to stay. He, however, warns that many cryptos issued today will not survive.

“I will say about cryptocurrencies … I don’t think there will be a lot of survivors out there trading today. I think there’s got to be some form of really feeling there’s safety and value there.”

When quizzed about his use case, the billionaire cited the Ethereum network, arguing that the world’s second-biggest cryptocurrency can function as both a store of value and a payment system: “With Ethereum, it’s the underlying blockchain. So, Ethereum has two things — you can use it as a payment system, you use it as a store of value.”

In other words, Icahn believes ethereum and bitcoin are very different. For him, the bellwether cryptocurrency is “just a store of value”.

0 Like(s)



You should also read...

Altcoins 25/11/19 17:25 by Brenda Ngari
86% Of Ethereum Holders Are Now At Loss – Will The Booming DeFi Be The Savior For ETH?
A precipitous slump in the crypto market like the one witnessed on Friday after China announced its renewed crackdown on crypto-related activities in the country is bound to further demoralize the ma...
Read More
Altcoins 30/11/19 22:30 by Cole Petersen
Will Ethereum’s Fundamentals Propel it Higher? Analysts are Conflicted
Ethereum has been closely tracking Bitcoin’s price action over the past several days and weeks, with BTC leading ETH to put some significant distance between its current price levels and recent lows...
Read More
Altcoins 03/12/19 17:42 by Thomas Delahunty
Bitcoin, Ethereum: Key Metrics Reflect Positive Sentiment Moving Into December
As prices slowly recover following a rough November, metrics for bitcoin and Ethereum illustrate positive industry sentiment moving forward. These metrics include measures related to active addresses,...
Read More
Altcoins 15/05/20 14:57 by Olivia Brooke
Reddit introduces over 20 million users to its new tokens on the Ethereum Blockchain
While the Ethereum network is currently preparing for the first phase of its upgrade, the Ethereum community is witnessing a rip-roaring revolution, thanks to the implementation of ERC-20 tokens to t...
Read More
Altcoins 19/05/20 07:26 by Nick Chong
These Fundamental Trends Could Aid a Strong Ethereum Recovery in 2020
Bitcoin may be down 50% from its all-time highs, but Ethereum has posted an even more harrowing performance. From the asset’s 2018 highs, set at the peak of the previous crypto-mania, ETH has fa...
Read More