Billionaire Carl Icahn recently made it known to the public that he strongly believes that it is Ethereum (ETH) and not Bitcoin (BTC) that is indeed the superior cryptocurrency as of now. As of the time of this writing, Ethereum is trading at a price of $2,687 (which is a 4.7% decrease since yesterday), and Bitcoin is trading at a price of $37,531 (which is a 4.2% decrease since yesterday). Ethereum remains the world’s largest altcoin by market capitalization and is the 2nd biggest cryptocurrency right behind the flagship crypto, Bitcoin.
Icahn explains that Ethereum is, in fact, useful because it can be utilized as both a payment system with different use cases as well as a storage of value. He, therefore, believes that Ethereum is the better option as compared to Bitcoin, which makes sense as Bitcoin has been struggling lately, whereas Ethereum has been performing relatively quite well.
As one of the more successful businessmen in the United States, Carl Icahn’s words have weightage and significance attached to them. He is the controlling shareholder as well as the founder of Icahn Enterprises, which is a conglomerate holding company with headquarters in New York. Also, American Real Estate Partners was the former name that Icahn Enterprises was referred to as. Carl’s net worth is just about $15.6 billion.
Ethereum has more functionality than Bitcoin, according to Icahn
As previously mentioned, Ethereum has two main functionalities that make it superior to Bitcoin, according to Icahn, namely the ability to be used as a form of payment as well as being utilized as the aforementioned store of value. Bitcoin, on the other hand, is just a simple store of value and not much else, Carl added.
Furthermore, Carl Icahn is hardly the only billionaire currently curious about Ethereum, as earlier on in the week, it had been Ray Dalio (a legendary figure in the world of hedge funds) that had also stated similar opinions regarding Ethereum being a bit more effective than that of Bitcoin, which Dalio also now owns.
$1 billion investment by Carl as cryptocurrencies here to stay
Carl Icahn has not yet dipped his toes into the world of cryptocurrency, but he does have eventual intentions of doing so and in a grand way. With this in mind, the billionaire has claimed that $1 billion could be invested by him into digital currencies in the foreseeable future as he looks to become increasingly involved.
Ultimately, Carl believes that cryptocurrencies are indeed here to stay, but he has also cautioned against supporting and investing in new and untested cryptocurrencies that may not be able to survive in the long run.