Legendary investor and former cryptocurrency skeptic Carl Icahn has finally decided to invest in this space. The well-known billionaire, 85, announced on the Bloomberg network that he is willing to enter the cryptocurrency market “in a big way”.” Apparently, we’re talking about at least $1.5 billion. Actually, I don’t know how well the new generations know this character. But we’re talking about a Gordon Gekko. In fact, Oliver Stone himself has confessed that Gordon Gekko is partially Carl Icahn. Now, we have it with us. What does Icahn’s arrival in cryptospace mean?
Carl Icahn is what is known as an “activist investor.” In the ’80s, those types of investors were called “Corporate Raiders.” Remember Edward Lewis in the movie Pretty Woman? The character played by Richard Gere? Well, Edward was a Corporate Raider. For many, greedy and cruel businessmen who took a company in difficulty in a hostile way and then sold their properties, and fired their people. All for the suckling money. Of course, for others these beings represented a necessary evil. A purge. His job was to preserve the efficiency of capitalism. We are talking about a kind of Spartan discipline. You’re efficient, because you are. Otherwise, you will be devoured by sharks. indeed Carl Icahn was one of those sharks.
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Carl Icahn began to earn a reputation as a ruthless capitalist by the hostile takeover of the airline TWA in the late 80s. He took it, dismantled it, took his profit and then abandoned it. Anyway Carl Icahn is an old-school investor. Many more active than Warren Buffett. Warren Buffett does not participate in hostile takeovers. Nor does it seek to intervene or change the administration of the companies it acquires. Friend Carl, on the other hand, is much more bellicose. In other words, he doesn’t tremble his pulse in quarreling with ceos and the boards of any company. He is known for writing public letters. And call the live TV shows to get all the rags out on the air. In fact, on several occasions, companies have come to pay him extra money to leave them alone as soon as possible. This is a strategy known on Wall Street as greenmailing. Well Carl Icahn is a famous greenmail.
Now, while it’s true that Carl isn’t as admired and respected as a Warren Buffett, curiously he’s not as hated as a George Soros. I would say that we owe this to you for two reasons. First, despite acting as an adviser during the Trump administration, no one can say that politics is their thing. second Carl is a nice subject with a village air. Their conversation is enjoyable. It’s funny and sounds sincere. In other words, the guy falls well. He’s not a cold introvert like Gates or Zuckerberg. Nor is he a James Bond movie villain like Soros. Carl Icahn is more of a character from the Sopranos. A survivor who has taken shortcuts, but is forgiven, because he came from below. Someone like Jordan Belfort in Martin Scorsese’s film The Wolf of Wall Street. Greedy, but nice.
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What will Carl Icahn bring to the crypto world? I would say it will bring some of its Carl-ness. That is, it will bring its mojo. His style. Surely, we will have your cards. Surely, you’ll call CNBC out of nowhere to talk about crypto. Anyway, we can trust that Carl will do his job to promote Bitcoin in his very particular ways. And, of course, we’ll enjoy a controversy from time to time. But, generally speaking, you could say that friend Carl is a positive thing for Bitcoin and crypto in general. He’s a heavyweight and a big endorsement.
But what is your motivation? The money, of course. Carl Icahn buys and sells for a profit. Here we will have no sentimentality of any kind. This is not the Bitcoin of the maximalists or the liberatory reform. This is the active Bitcoin for investment. Pragmatic Bitcoin. Carl Icahn is an important, influential and very well connected subject. But we must not forget that he is a businessman. He sees an opportunity and takes it. Their goal is profit.
Here comes the big question: Why a skeptic becomes in a believer? The public usually thinks that these big money men know it all. I mean, they always know something that little ones don’t. Which means that opposition to Bitcoin cannot be due to misunderstanding or ignorance. After all, they know everything. They are supernatural beings. Most likely, this public rejection is actually a conscious struggle by the elite to preserve interests. I mean the evil system that defends itself against the revolutionary threat posed by Bitcoin, the people’s currency.
Of course, there is also another possibility. It is possible that at first it was a matter of ignorance because it was something very new and different. On the other hand, it can be a matter of reputation and connections. In other words, trustworthy. Who could I call Carl Icahn 5 years ago to learn more about Bitcoin? Most likely, he would run into some maximalist shouting libertarian dogmas from 100 years ago. Roger Ver? John McAfee?
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You don’t have to be a genius to know the reasons for Carl’s change. This is a theory. Years ago, when asked by the press about cryptocurrencies, Carl responded automatically based on how little information he had on the subject at the time. Then, Carl Icahn was officially labeled as a cryptocurrency skeptic. Over time, he obviously investigated the matter further. And he sought guidance from the right people. We must take into account that Bitcoin is no longer what it was 5 years ago. Today we have better representatives. Carl was able to take the phone and talk to more reliable people. Which was much harder to do 5 years ago.
Carl doesn’t have a silly hair. He sees an opportunity and takes it. It is a financial decision aimed at making money. In today’s world, everything is a conspiracy. And we love to think that our beloved village currency is constantly being attacked by the evil establishment. But it is also possible that the anarchist discourse of the past frightened many investors. Now we have Wall Street doing promotion. The narrative is different. Bitcoin is being refined and has better promoters. Thus, investors, previously skeptical, are showing interest. Now they want to invest. Welcome, Carl Icahn!