"Wall Street Wolf" Carl Icahn views crypto: Bitcoin is a store of value, seeking large-scale involvement

In an interview, Carl Icahn, founder of Icahn Enterprises and ranked 61st on the Forbes billionaire list in 2019, expressed disdain for critics of cryptocurrency. He also revealed that he is considering entering the cryptocurrency investment field on a large scale.

Who is Carl Icahn

Carl Icahn is the founder and majority shareholder of Icahn Enterprises, ranking 39th on the Forbes 2020 list of the wealthiest Americans with total assets of $14 billion.

Known for his unique "value investment strategy," he targets specific companies, aggressively acquires large amounts of shares, and intervenes in the company's operations to drive up the stock price from its lows.

As a result, Carl Icahn is also known as the "Icahn Lift," as stock prices soar when he takes control, earning him titles such as "corporate raider" and "Wall Street wolf."

Carl Icahn's Views on Cryptocurrency

At 83 years old, Carl Icahn shared his views on cryptocurrency in an interview with Bloomberg, aligning with legendary investors Stanley Druckenmiller, Paul Tudor Jones, and Ray Dalio. He stated:

The rise of cryptocurrencies is a "natural manifestation" of inflation, and if the Fed continues to print money, the US dollar may lose its dominance. While I am not a crypto investor yet, I disagree with those who criticize crypto assets. Cryptocurrency holds the same value as the dollar, and the only real value of the dollar is that you can use it to pay taxes.

Bitcoin as a "Store of Value"

Icahn has his own insights into Bitcoin and Ethereum, viewing Bitcoin as a "store of value" and Ethereum as more of an "added value company." He mentioned:

Describing Ethereum as a company is not quite accurate; it is a foundational chain that provides payment and value storage functions. You need Ethereum and blockchain to confirm your on-chain assets. I may be oversimplifying, but this is something you have never experienced before. You can safely hold cryptocurrencies because blockchain secures your assets.

Investing in Cryptocurrency?

Icahn stated that he is currently researching the crypto space and has not yet decided on the large-scale way to collaborate with companies, but he does believe there is a way to participate.

When asked about the specifics of "big way" investment, Icahn responded:

For me, a big way is buying some cryptocurrencies, etc., maybe tens of billions or even 50 cents. Our investment can be large or small, and I can't give you an exact number.