billionaire investor Carl Icahn He told CNBC on Monday that in the long run, stocks are heading towards a “crisis” as the surplus in the money supply released by the US government and the Federal Reserve increases inflationary pressures.
“In the long run, we’re definitely going to hit the wall. I think there’s really going to be a crisis with the way we’re going, the way we print money, the way we go about inflation. If you look around, you see inflation all around you, and I don’t know how you’re going to deal with it in the long run.”
The outbreak of COVID-19 in the US last year prompted the White House administration and the country’s central bank to pour trillions of dollars into the financial system. The boom in the money supply fed an increase in inflation that sent consumer and wholesale prices to their highest levels in recent years.
In the midst of high prices, Icahn bitcoinHe acknowledged that he had potential. He told CNBC he doesn’t understand Bitcoin and that his company, Icahn Enterprises, is the world’s most traded cryptocurrency He said he did not invest in the unit. But he added that it could have some value in the face of rising inflation.
“If inflation goes up, I guess it will have some value. So will inflation increase? Or will the government come and stop this thing like they did in China?”
Icahn explained why he did not invest in BTC with the following words:
“It’s so volatile that it’s a very difficult thing for me to invest in.”
Bitcoin prices have soared in recent days following the approval of the first Bitcoin-linked exchange-traded fund in the US. The digital currency climbed as high as $62,000 in Monday’s trading session.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.