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Billionaire Carl Icahn Prefers Ethereum Over Bitcoin

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Thu, 05/27/2021 - 05:02
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Alex Dovbnya
Carl Icahn says Ethereum is both a store of value and a payment system
Billionaire Carl Icahn Prefers Ethereum Over Bitcoin
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During a Bloomberg TV interview, Icahn Enterprises founder Carl Icahn had some words of praise for Ethereum, the world’s second-largest cryptocurrency, claiming that it can function as both a store of value and a payment system:

With Ethereum, it's the underlying blockchain. So, Ethereum has two things — you can use it as a payment system, you can use it as a store of value.

When it comes to Bitcoin, the American businessman—whose net worth is estimated to be $15.6 billion—says that it can only serve as a store of value:

So Ethereum and Bitcoin are different. Bitcoin to me is just a store of value.     

Icahn is not the only Ethereum-curious billionaire. Earlier this week, hedge fund legend Ray Dalio, who now owns Bitcoin, also said that Ethereum’s transactions are more efficient.

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A $1 billion bet

While Icahn is yet to make a foray into crypto, he wants to eventually do it in a “big way”:

I’m looking at the whole business, and how I might get involved in it…

The activist investor claims that he could put over $1 billion into digital currencies.

Overall, he thinks that crypto is here to stay but warns that many cryptocurrencies issued today will not survive.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.