"Crypto Is Here To Stay": Carl Icahn Wants Up To $1.5 Billion In Crypto Exposure, Prefers Ethereum

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by Tyler Durden
Thursday, May 27, 2021 - 04:22 AM

With the likes of JPMorgan and Goldman jumping on the crypto train (favoring Ethereum over Bitcoin), yet another one of the world's most legendary investors has became bullish on the space (adding to Loeb, Dalio and Druckenmiller, while Munger and his Omaha homie never will).

On Thursday, Carl Icahn told Bloomberg Markets' Taylor Riggs that while he doesn't own any digital currencies, his firm might get involved in a "relatively big way," adding "Crypto is here to stay in one form or another."

"I think a natural manifestation of this inflation," said Dalio, adding "it's not yet there - but you had it in the 70s, and what's gonna happen if you have that is, [people are] going be for looking for other stores of value outside the dollar. We are the resereve currency now, but if you keep printing money, it's not going to be there."

When asked if he sees crypto as a store of value or more of a payment system, or the 'underlying blockchain' as is the case with Ethereum, Icahn replied:

"With Ethereum it's the underlying block chain. So, 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."

It seems the market is thinking the same way the last few months...

When asked by host Caroline Hyde if he was looking at Bitcoin and Ethereum for an investment, Icahn said "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 in it with Icahn Enterprises, in a relatively big way. Cause I do think it's here to stay in one form or another."

"What does relatively big way mean?" asked Hyde, who then pressed him on the dollar amount he might invest.

"Well, a big way for us would not be to buy a few coins or something," replied Icahn, adding "I mean, a big way for us would be a billion dollars, billion and-a-half dollars ... I'm not going to say exactly."


Notable crypto investor Michael Saylor took notice: