Carl Icahn, the billionaire investor, and founder of Ichan Enterprises L.P. were recently seen commenting on Bloomberg that he is considering investing $1.5 billion in cryptocurrencies. He is the very same person who is a CBC interview, three years ago, was quoted calling crypto “ridiculous”. However, his stance has drastically changed in these past three years after doing a thorough study of Bitcoin, Ethereum, and the crypto market and the new regulatory policies along with it. Now he is considering investing in the market “in a big way” and get gains out of it the same way he has made gains from other industrial markets.
Even though he is yet to officially enter the crypto market yet or invest, he mentioned that he is currently studying the market trends and is making meticulous investment plans. The rising trend of alternative currencies is the “natural manifestation of inflation” as per Icahn. The alternative currencies have received attention because the stocks with insane prices were being traded for. And this is what made Ichan change his decision of not investing in cryptocurrencies.
Forbes magazine in 2020 reported Icahn to have a net worth of $16.7 billion. He was also appointed as a special advisor on regulation by Donald Trump in 2016.
Three years ago, in the CNBC interview, Icahn was against crypto because of the many regulatory concerns and issues related to money laundering and more. However, the biggest question is what made Ichan change his mind to invest in the crypto market?