Billionaire investor Carl Icahn has jumped on the bandwagon of financial bigwigs saying bitcoin is in a bubble.
The business magnate and founder of Icahn Enterprises told that the cryptocurrency “seems like a bubble” and that he didn’t understand the hype around bitcoin.
“I got to tell you honestly, I don’t understand it … I just don’t get it. I just stay out of something if I don’t understand it.”
The investor further compared the bitcoin market to 18th-century before it finally collapsed. “To me, this is what this is,” he said.
His comments follow similar comments from investor Warren Buffett in October, describing bitcoin as a “.” Buffett said at the time, “People get excited from big price movements, and Wall Street accommodates,” while criticizing the idea of applying a value to bitcoin.
Additionally, Credit Suisse CEO Tidjane Thiam last month that bitcoin is “the very definition of a bubble,” calling the anonymity of the cryptocurrency a “challenge.”
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