2021-05-28 02:59:20
Bitcoin Rises as Carl Icahn Floats Possible $1.5 Billion Investment in Cryptos
Another traditional investor could soon enter the world of cryptocurrencies...
In an interview with Bloomberg, billionaire investor Carl Icahn said that he was studying cryptocurrency investments.
He added that he thinks cryptocurrencies are here to stay in one form or another. And, more importantly, he said that he could buy into the cryptocurrency sector in "a big way." He later specified that he could build a $1 billion to $1.5 billion position in cryptocurrencies.
This represents an about-face for Icahn on the cryptocurrency world. In a summary of the interview, Bloomberg highlighted that Icahn had previously called cryptocurrencies a bubble.
That makes him the second traditional investor we've seen make positive comments on cryptocurrencies this week. Earlier in the week, Ray Dalio (the founder of the world's largest hedge fund) said that he personally bought bitcoin.
In recent months, we've highlighted notable bitcoin investments from other billionaire investors like Paul Tudor Jones and Stanley Druckenmiller.
These investments and comments show that institutional adoption of bitcoin is growing. Some of the world's largest asset managers consider (or are close to considering) bitcoin as a store of value and an acceptable investment vehicle. This will go a long way toward legitimizing investment in the cryptocurrency.
The bullish comments come at a time when optimism in the cryptocurrency space is low. in recent update this week, the Crypto Fear and Greed Index recently hit the lowest level since March 2020.
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