Carl Icahn, business magnate and founder of Icahn Enterprises, said on CNBC that the cryptocurrency for him seems to be a bubble, and he doesn’t understand the hype around bitcoin:
“Frankly, I don’t understand this. I just don’t understand. I prefer to stay away from what you don’t understand.”
The investor also compared the bitcoin market with the bubble that arose during the sale of land in Mississippi in the eighteenth century. Then franzuzski financier John law lured Parisians to buy land in America, artificially inflating the wealth of Louisiana by the scheme, which has led to massive speculation in shares of the Mississippi Company in 1719, However, exactly one year speculative bubble that ballooned because of the overvalued company, burst.
Review of the Icon has much in common with the words of Warren Buffett, who in October called bitcoin a real financial bubble. Then Buffett said:
“People admire large price fluctuations, while wall street adjusts to it.”
Speaking about the critics who claim that the market of the bitcoin bubble, it is worth mentioning the General Director of Credit Suisse in Tidjane Thiam, according to which bitcoin is the very definition of a bubble, and its main problem is anonymity.
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