The billionaire activist investor believes crypto is here to stay.
Billionaire investor Carl Icahn told Bloomberg television this workweek that he may get into crypto in a “ big way. ” When pressed on what a big way might mean, he said he ‘s considering investing a much as $ 1.5 billion in crypto. Icahn ‘s history of taking ample positions in companies and pushing for change has won him a reputation as an militant investor. Through his company, Icahn Enterprises, he ‘s changed the guidance of a phone number of american english companies.
so, why is he now looking at cryptocurrency ?
Icahn now believes crypto is here to stay
During the interview, Icahn expressed concerns about inflation and the amount of excess money around. He ‘s worried that a lot of investments today are fooling the public and believes a set of companies and meme stocks are trading at “ absurd prices. ” But he said there may be something to cryptocurrencies. In terms of crypto, Icahn says his team is studying the diligence, and he thinks it ‘s “ here to stay in one form or another. ” He does n’t have his sights set on a specific mint so far but is looking at the diligence as a whole .
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What does this mean for cryptocurrencies?
Cryptocurrency prices have been rocked in late weeks, beginning with Elon Musk ‘s tweet that Tesla would suspend Bitcoin purchases due to environmental concerns. Back in February, the announcement that Tesla had bought $ 1.5 billion in Bitcoin was one of the factors that drove the top digital currency ‘s price to an all-time high. One of the unmanageable things about investing in cryptocurrency is that news program from billionaire investors can have an outsized impact on the market as a unharmed. however, while Icahn ‘s views are surely positive news, he has n’t taken the steep however. news that he might invest is not enough to assuage business caused by a crackdown in China and fears of increased regulation in the U.S. As an investor, it is worth taking his caution to heart. With over 10,000 cryptocurrencies on the commercialize nowadays, many will fail. indeed, according to Coinopsy ( a site dedicated to tracking dead coins ) over 2,000 digital currencies have failed since Bitcoin was launched in 2009. There ‘s so much ballyhoo and sol much new and unseasoned engineering, it can be hard to distinguish the good investments from the bad. And Icahn may be veracious that alone a limited number of the coins we see today will survive.
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Start investing Most top cryptocurrency exchanges only list a limited number of coins, which they do vet to some degree. tied so, it ‘s authoritative to research your investments carefully, as it ‘s your money on the line. Do n’t buy just because a celebrity told you to or because you think it ‘s going to make short-run gains. And if — and when — Icahn does go bad on crypto, it will be worth paying attention to which coins he chooses to buy .
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