Billionaire Carl Icahn Eyes Potential $1.5B Crypto Investment

The activist investor said cryptocurrency would endure but not necessarily all the current digital.

AccessTimeIconMay 27, 2021 at 7:31 a.m. UTC
Updated Sep 14, 2021 at 1:02 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

U.S. billionaire and one-time cryptocurrency skeptic Carl Icahn is contemplating a potential $1.5 billion investment in digital currencies.

The activist investor said he's looking at investing in crypto in "a relatively big way," clarifying that "big" could mean "a billion dollars, billion-and-a-half."

Icahn shared his thoughts via an interview on Wednesday with Bloomberg on topics including investor activism, GameStop shares and digital assets. 

Once likening cryptocurrency to the 18th century Mississippi land bubble that led to the collapse of stock markets in Europe, Icahn now appears intrigued by cryptocurrency's potential.

"I'm looking at the whole business," said Icahn, referring to the crypto industry. "I'm not looking at what to buy necessarily at this time. I'm just looking at the whole business and how I might get involved with it."

Icahn also said he believes crypto assets are "here to stay in one form or another," before being pressed on how much he would consider buying through his investing conglomerate, Icahn Enterprises.

Icahn joins a number of billionaires who have reversed their negative opinion of cryptocurrency, including Mark Cuban, Michael Saylor and Howard Marks.

"I will say about cryptocurrencies ... I don't think there will be a lot of survivors out there trading today," Icahn said. "I think there's got to be some form of really feeling there's safety and value there."

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.