Carl Icahn: Bitcoin is a protective measure against inflation

Crypto-skeptics are gradually turning to the light side. First, George Soros has understood the real power of digital assets, starting to invest in cryptocurrencies, and now one more US billionaire, Carl Icahn, calls Bitcoin a protective measure against inflation.

The founder of Icahn Enterprises stated that the world is standing on the threshold of a crisis. The frightening inflation is inevitable in such a situation.

“While talking about the long run, all the financial markets are going to hit the wall. We are printing money and entering faster inflation phases; this is why the crisis is inevitable. Consumer prices are on the rise, and I have no idea how the government could cope with the current situation,” – the billionaire commented on what is going on now.

As for Bitcoin, Carl Icahn understands the first cryptocurrency as a mechanism against inflation:

“Our team consists of a lot of smart people, and now we cannot understand Bitcoin. We are not investing in assets without understanding them. But if the inflation becomes uncontrollable, Bitcoin will allegedly get the value. As of today, it is hard to invest in BTC.”

On October 20, Bitcoin reached a new ATH, setting another price record at $66 930 per coin. The news about the launch of the first US Bitcoin-based ETF was the core driving force for BTC price.