Carl Icahn Hints At Investing More Than $1B In Cryptocurrency

Activist investor Carl Icahn told Bloomberg TV on Wednesday that he may jump on to the cryptocurrency bandwagon in a “big way.”

The head of investment firm Icahn Enterprises LP (NASDAQ: IEP) admitted during his interview that while he hasn’t bought any cryptocurrency yet-he studies Bitcoin and Ethereum and the crypto sector in general to see where the opportunities are.

“I’m looking at the whole business, and how I might get involved in it with IEP in a relatively big way, ” Icahn said.

Ichan also noted that any criticism around cryptos having no underlying value is a “little wrong-headed” while adding that investors are looking at alternative currencies as parts of the market are driven by extreme overvaluations.

“Well, what’s the value of a dollar? The only value of the dollar is because you can use it to pay taxes,” Icahn told Bloomberg. “I’m looking at the whole business, and how I might get involved in it.”

The billionaire investor, whose net worth is over $16 billion, was also full of praise for Ethereum (CRYPTO: ETH) saying Bitcoin (CRYPTO: BTC) is just a store of value while Ethereum is a “real value-added company” because it can be both a store of value and a payment system.

Icahn hinted that he may eventually invest more than $1 billion in a digital currency.

Price Action

BTC traded 1.49% higher at $39,122 at press time, while ETH traded 3% higher at $2,791.

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