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Bitcoin’s price has plummeted in the new year. Carl Icahn has labelled the cryptocurrency “ridiculous”. Despite the crypto’s recent increase, the leading American investor warned about
Bitcoin. He said: “I don’t like the cryptocurrencies only because, maybe because I don’t understand them. “But, you know when you talk about the Blockchain, we need to talk about
regulation again. How do you regulate them? “How many times have you seen scandals when these things have been done? “Maybe I am just too old for it, but I sure wouldn’t touch that stuff.
But if you like it maybe you understand it better than I do.” During Mr Icahn’s interview with CNBC, the billionaire also branded cryptocurrencies “ridiculous” because of their complexity.
Bitcoin could see even further gains this week as the US Senate Banking Committee discusses the regulation of cryptocurrencies in the country. CRYPTOCURRENCY EXPERT SAYS BITCOIN BUBBLE HAS
BURST > Maybe I am just too old for it, but I sure wouldn’t touch that > stuff > > Carl Icahn Bitcoin’s price is on the rise and is up 5.62 percent to $8,133.32 according to
Coindesk at 10.42am(GMT) on Wednesday 7 February. The comments come after Financial Analyst Martic Baccardax told Al Jazeera there was a huge “potential for pain” when investing in Bitcoin.
He said: “I think it’s a good point that the volatility has been around for some time but there is a great difference between trading at $1 and $3 then there is when trading at $9,000 and
$19,000. “The potential for pain is a lot more significant and the stakes are significantly higher. “The one point I would make is that I do agree in 1994 we were all questioning the
validity of the internet as a commercial vehicle, but there was only one internet. “We have got 13,000 cryptocurrencies right now and whether or not you believe this is going to be the
transaction method of the future is really irrelevant, it is what is going to be the single token that we use or whether we use multiple tokens.”
