Carl Icahn, the billionaire founder of Icahn Enterprises, has recently praised Ethereum (ETH), the second-largest cryptocurrency by market capitalization, over the flagship digital currency, Bitcoin (BTC), claiming that it has the capability to function as both store of value and a payment system.
The billionaire investor, whose net worth is estimated to be $15.6 billion, made this assertion in an interview with Bloomberg TV.
Carl Icahn noted:
“With Ethereum, it’s the underlying blockchain. So, Ethereum has two things — you can use it as a payment system, you can use it as a store of value.”
Bitcoin (BTC) Can Only Serve As a Store of Value
According to the American businessman, Bitcoin (BTC) and Ethereum (ETH) are different assets entirely, due to the fact that the former can only serve as a store of value.
“So Ethereum and Bitcoin are different. Bitcoin to me is just a store of value.”
Among the world-renowned billionaires are others who are also rooting for Ethereum, the largest smart contract platform, and its native token ETH.
Earlier this week, a hedge fund legend, who is now a Bitcoin holder, stated that transactions on the Ethereum network are more efficient.
Carl Icahn Plans $1 Billion Bet For Cryptocurrency
Although the billionaire businessman, Carl Icahn, has not fully joined the cryptocurrency bandwagon, he wants to join in a very big way.
He said he’s still exploring cryptocurrency and finding the best possible way to get involved in the nascent market, stating that he could eventually invest over $1 billion into cryptocurrencies.
Conclusively, he joined his voice with others to say that crypto is here to stay. However, he thinks many digital currencies in the market today will not stand the test of time.