Another Billionaire Investing in Crypto!

Laser focus billionaire Carl Icahn has just spoken out that he will be getting involved in cryptocurrency investing in a big way.

may eventually put more than $1 billion into an alternative currency.

He compares the fiat currency USD with cryptocurrency.

“Well, what’s the value of a dollar? The only value of the dollar is because you can use it to pay taxes,” he said. “I’m looking at the whole business, and how I might get involved in it.”

Interestingly enough he also sounds supportive to the whole Reddit, Wall Street Bets and Robinhood investors.

“I don’t think Reddit and Robinhood and those guys are necessarily bad, I think they do serve a purpose,” Icahn said. “Money is funneling back into companies. Some of these companies might be OK, but a number of them, the risk-reward is absurd.”

The odds of getting big rewards is huge when investing in cryptocurrency as it is still in its infancy. Holding crypto as an investment rather than trading will benefit investors in the long run as more of the 1% will also buy in. Be ahead of the game by holding to my crypto so that one day I can sell it to a rich tycoon. The transfer of wealth effect works exactly as such. Where supply and demand for cryptocurrency will eventually lead to more appreciation to investors who stick to their holdings while rich tycoons are reinforcing the value of crypto in the real world at much higher evaluations.

Thanks for reading.