Legendary billionaire who called crypto ‘ridiculous’ now wants to invest $1.5 billion in the market

Legendary billionaire who called crypto ‘ridiculous’ now wants to invest $1.5 billion in the market

On Monday, the billionaire hedge fund manager said he would be positive on bitcoin and ethereum and will soon be buying digital currencies. The statement came after several days of waffling on whether he would accept cryptocurrencies. In an interview on CNBC last week, Buffett said cryptocurrencies were “just a way of transmitting money” and said he would be selling bitcoin and some other cryptocurrencies if he could get them at a reasonable price.

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Tim Draper, the legendary American billionaire who was an early investor in Bitcoin and is the largest shareholder of BitPay, has now decided to invest $1.5 billion into the cryptocurrency market.

After calling cryptocurrency “ridiculous” and a “fraud”, billionaire venture capitalist Tim Draper said he would put $250 million into Bitcoin, a short-lived cryptocurrency that peaked at $19,783 in December 2017, but had since fallen to about $4,000 by April 2018. At the time of the announcement, the news didn’t come as a surprise, as no one expected Draper to put his money into a failing project.. Read more about next bitcoin stock and let us know what you think.

Legendary billionaire who called crypto ‘ridiculous’ now wants to invest $1.5 billion in the market Billionaire investor and founder of Icahn Enterprises L.P. Carl Icahn said in an interview with Bloomberg that he plans to invest up to $1.5 billion in various cryptocurrencies. Icahn Enterprises L.P. is a U.S. conglomerate that invests in a number of sectors, including energy, automotive, food packaging, metals, real estate and residential fashion.

An overview of activities

Three years ago, Icahn called cryptocurrencies ridiculous in an interview with CNBC, but after studying Bitcoin (BTC), Ethereum (ETH) and the cryptocurrency market in general, he has changed his mind and is considering entering the market in a big way. Billionaire investor Carl Icahn says he wants to take a relatively large stake in cryptocurrencies pic.twitter.com/c9HLRLMFuy – Bloqport (@Bloqport) 26. May 2021 Although he hasn’t bought any cryptocurrencies yet, Icahn is doing his due diligence and studying the entire cryptocurrency sector to determine where the opportunities lie. I’m looking at the business as a whole and how I might get involved, Icahn said in an interview about his plans to invest in cryptocurrencies, while calling the common criticism that cryptocurrencies have no intrinsic value misleading. He claimed that the dollar was the problem and attributed the growing popularity of alternative currencies to the natural manifestation of inflation in the economy. Well, what’s a dollar worth? The only value of the dollar is that you can pay taxes with it, he said. According to Icahn, alternative currencies are gaining attention because of the ridiculous prices at which some stocks are trading on the stock market, which he calls meme stocks. I don’t think Reddit, Robinhood and other companies are necessarily bad, I think they serve a purpose, Icahn said. The money goes to the companies. Some of these companies may be good, but for many, the risk and reward is absurd.

FOMO in a big league

According to Forbes magazine, Icahn had a net worth of $16.7 billion in 2020. In 2016, Donald Trump appointed him special adviser on regulatory affairs. He wanted the activist investor to help him personally, not as a federal employee. In an interview with CNBC three years ago, Icahn said he wouldn’t touch cryptocurrencies because of regulatory issues. The biggest question is why he changed his mind and became the next billionaire investor to enter the market.

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When controversial bitcoin investor Jim Rogers bought a stake in bitcoin in 2015, he said he would never invest in the digital currency again. But now, Rogers has changed his mind. The legendary investor has invited a group of his bitcoin investors to meet with him at his office in New York City, and he wants them to invest $1.5 billion into cryptocurrencies in the next 12 months.. Read more about will cryptocurrency crash and let us know what you think.

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