Billionaire investor Carl Icahn is considering cryptocurrency in a “big way,” earmarking a potential $1.5 billion into alternative currency.
The billionaire investor hasn’t acquired any cryptocurrency yet, but he tells Bloomberg TV that he is analyzing the crypto market for opportunities.
“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 also believes crypto assets are “here to stay in one form or another” and that alternative currencies are becoming popular as a natural progression of economic inflation.
His opinion is a U-turn from his previous stance. In 2018, Icahn was a skeptic, calling cryptocurrency “ridiculous.”
Icahn joins a number of billionaires who have reversed their negative opinion of cryptocurrency, including Mark Cuban, Michael Saylor and Howard Marks.
He also warned that the future of crypto may eliminate a lot of the coins currently on the market.
“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.”