Cryptocurrency News

Legendary Investor Carl Icahn Could Enter The Crypto Market With as Much as $1.5 Billion

Over the last year, Bitcoin has proven itself as a very worthwile investment. Even with the recent price drops, BTC is still currently trading about 280% higher than one year ago. The impressive performance of the world’s top digital asset has pushed more to consider making a move into the market, including former billionaire investor Carl Icahn. Icahn previously expressed a critical stance towards cryptocurrencies, but his recent comments indicate a much more positive attitude.

Billionaire hints at investing $1.5 billion in the market

In a recent update from the famous billionaire, he mentioned that he could enter the cryptocurrency markets in a big way. With a net worth of around $22 billion, Icahn has always been regarded as one of the most influential personalities on Wall Street. His influence runs deep, with many investors following his lead by investing in the markets he is involved in.

Asides from being a renowned investor, Icahn previously served as an adviser for former U.S. President Donald Trump. In an interview with Bloomberg TV, Icahn mentioned that he could be investing as much as $1.5 billion if he does decide to make an entrance into the crypto market.

Back as 2018, Icahn mentioned that he was opposed to digital assets like Bitcoin because he considered them ridiculous. He further went on to mention that he was not looking to deal with them.

More investors are turning to Bitcoin

According to Icahn, investors are beginning to get worried at the rate at which the value of the dollar is dropping. Furthermore, he mentioned that digital assets like Bitcoin might be the much-needed solution to the issue. Despite his words of encouragement, Icahn pointed out that most of the digital assets in circulation today are likely to go extinct in the future.

Icahn also mentioned that at this time, he is still looking for a way to enter the market, throwing shade at critics who said digital assets lacked intrinsic value, branding them wrong.

In the last few months, high-pour investors have continued to pour into the crypto market, with Oaktree Capital co-founder Howard Marks being a prime example. Marks mentioned that judging by the fact that he is just getting into the market, he doesn’t have any view on the digital assets as he wants to learn first. Legendary hedge fund manager Ray Dalio also made the news some days ago after mentioning that he now holds a small amount of Bitcoin.