The famous American businessman Carl Icahn has apparently changed his position on cryptocurrency. In an interview for Bloomberg Markets, Ikan indicated potential investment of up to $ 1.5 billion in the sector.
Thus, Karl shares Ikan’s stance Stanley Druckenmiller, Paul tudor jones, And recently put ray on this new asset class. Icahn believes that the rise of cryptocurrency is a “natural expression” of the current macro-economic outlook and its inflation.
With these economic conditions, investors are seeking new reserves of value outside of the United States dollar. Like Dalio, Icahn fears that the dollar is heading towards depreciation and potentially, if the Federal Reserve “keeps printing money” it may lose its status as a reserve current.
Karl Ikan claimed that he “is not yet an investor” but disagrees with critics of these assets and finds as much value in cryptocurrency as the US dollar. He said: “The only value of the dollar is really because you can use it to pay taxes”.
Karl Ecken: Bitcoin and Ethereum are here to stay
When asked about specific use cases between Bitcoin is considered “commonly” as a repository of value, and Ethereum, the ecosystem for decentralized applications, Karl Ikan seemed well informed.
The veteran investor was able to provide a unique approach, often not heard from anyone in traditional finance. He said:
Ethereum is the underlying blockchain. So, Ethereum has two things that you can use as a payment system. You can use the store of value. Therefore, you need Ethereum, the blockchain, to make sure you have something. You have never had one where you can buy a cryptocurrency and you can say, “I am safe” because you have a blockchain which makes it very safe for you. I am over-simplifying.
Icahn believes that this is what provides cryptocurrency, such as Bitcoin And Ethereum, with “great value”. However, he said the main two cryptocurrencies are “different”. While bitcoin is “a store of value only”, Ethereum is “like a value-added company”.
However, he pointed out that it is not right to call it a company. Asked if he would like to invest exclusively in either of these two cryptocurrencies, he replied: “I’m looking at the whole business and how can I get involved in it in a relatively big way”.
Later, Karl Ikan said that cryptocurrency is here to stay and clarified that going into business “in a big way” could lead to an investment of $ 1 billion, $ 1.5 billion or more. He seemed more optimistic on Ethereum and as a final consideration, it is unlikely that all cryptocurrencies will survive.
This has led many to speculate on the possibility that Icahn may already be a crypto investor. Anonymous Analyst Macroscope said On this possibility the following:
Two things based on decades of looking at iqan:
You will hear more when he has a full position… a lot more (and much louder), and that position will actually be complete. Do not underestimate its impact on legacy PM / Merchants in NYC, where Icans are worshiped.
Ethereum Trades At $ 2,799 with an 11.8% gain in the weekly chart and 4.8% gain in the daily chart. The monthly chart has a profit of 10.4% and appears to have enough conviction to push it towards the $ 3,000 mark. A successful advance in this area can determine the fate of ETH’s price action in the short term.