Bitcoin And Billionaires: Carl Icahn Might Go In For Crypto, Too

Concerns About Wider Market Economies and Inflation

The main reason here is growing inflation and the understandable desire to hedge against it. Still, I find the change in minds even more curious than the change in portfolios: the very idea that the large-scale investors started to consider crypto as an asset is a sure tell of its accelerating adoption. Many of them made a big shift from opposition to acceptance – which is one of the biggest wins the industry ever celebrated.

Billionaire Investors

The pioneer here was Paul Tudor Jones – an American hedge fund manager, conservationist, and philanthropist (net worth around $5.1 billion). As the first billionaire to buy BTC, he basically paved the way for 10+ figure investments into the coin.

Stanley Druckenmiller, founder of Duquesne Capital, and one of the Wall Street’s most successful executives ($10.4 billion), and Ray Dalio, a co-chief investment officer of Bridgewater Associates ($17.0 billion), soon followed in Jones’ wake, joining the ranks of proud (and very, very rich) crypto owners.

Another Billionaire Enters the Mix

Despite the current period of volatility, the trend continues. Billionaire investor Carl Icahn has recently confessed to Bloomberg that he is considering making a large investment into crypto too, “a billion dollars, billion-and-a-half,” according to him. An 85-year old American entrepreneur, Icaah is a financier and a corporate raider, as well as founder and controlling shareholder of Icahn Enterprises (US$16.3 billion).

“Much of the cryptocurrency issued today will not survive, but we believe cryptocurrency in one form or another might be here to stay,” acknowledged the billionaire. As for the dollar, he says, its value comes from being a legal tender. He didn’t elaborate on which currencies he prefers though.

Do you agree with Icaah about the dollar? What are the chances that crypto will replace it with time?

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