Carl Icahn Says Crypto ‘Here to Stay,’ Could Invest $1 Billion

Icahn Enterprises founder Carl Icahn said Wednesday he was looking at getting involved in cryptocurrency in a “big way,” potentially to the tune of more than $1 billion.

“I’m just looking at the whole business and how I might get involved with it with Icahn Enterprises in a relatively big way,” the activist investor said in an interview with Bloomberg. Asked to define a “big way,” he clarified, “A big way for us would be $1 billion, $1.5 billion, something like that, that would be sort of a big way, I guess, for us.”

He added: “Sometimes we go bigger than that, sometimes a lot smaller. I’m not going to say exactly.”

He also said it was a “little wrong-headed” to criticize cryptocurrency over an alleged lack of underlying value, but that there was “no question” some assets on the market were overvalued.

Watch above via Bloomberg.

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