Legendary, billionaire investor Carl Icahn is looking to get involved in the crypto-space in a big way.
He is one of the world’s most successful investors. In fact, he has beaten Warren Buffet’s performance over the past 20 years with a return of 1,980% compared to 545% from Berkshire Hathaway. He is most well-known for being an activist investor, meaning he would buy a significant stake in certain corporations to force change – a move he’s done with numerous companies.
According to his latest appearance with Bloomberg, he’s now looking to enter the crypto-space.
Inflation & Crypto
The basis of his investment outlook in crypto is mainly based on the inflation that seems to be on the horizon. According to him, inflation pushes people to look for Stores of Value (SoVs) which is the US Dollar is commonly used for. However, that’s the case because it is the world’s reserve currency and given the excessive printing of new USD, that may change.
He has not yet invested in crypto through his investment vehicle Icahn Enterprises but says is looking to get involved in a big way – by which he explains starts with a $1 Billion stake without disclosing the upper limit.
During the interview, Icahn also criticises the common questioning about the underlying value of cryptocurrencies by saying: “What the value of the dollar? The only value of the dollar is because you can use it to pay taxes.”
Bitcoin vs Ethereum
Icahn seems to have done his research on both bitcoin and ether, based off of which he commented:
Ethereum has two things – you can use it as a payment system, you can use it as a store of value […] So Ethereum and Bitcoin are different. Bitcoin to me is just a store of value.