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.
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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.”
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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.
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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.
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