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Billionaire Carl Aikan admitted that he does not understand cryptocurrencies and sees no point in investing in them

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A well-known investor Carl Aikan in an interview expressed his aversion to cryptocurrencies, calling them “funny”, but unlike others, he admitted that in this case the problem can be with him.

Aikan pointed to a limited understanding and old age as two of the main reasons why he tries to stay away from cryptocurrencies.

“Maybe I’m too old for them, but I wouldn’t invest my money in them,” he said.

Warren Buffett, an equally well-known investor who has also stated that he will only invest in companies whose business models he understands, does not predict a happy ending for cryptocurrencies.

Meanwhile, Aykan works in his style. It aims to invest in corporations that it believes are undervalued. For example, in stock markets, if he sees a Corporation that is “poorly managed” or a Mature takeover candidate, he knows what to do – attack, acquires enough shares to assert his influence on the Board of Directors and implement a change of direction.

Among the sectors of the economy on which it is focused – railway, food packaging and investments, which, by the way, tend to use blockchain.

But with cryptocurrencies, this is a completely different story, because with the decentralized nature of the digital currency, it can be traded separately from the persons who issued it, if necessary. Brad Garlinghouse of Ripple once said:

“With regard to centralization, if the Ripple is gone from the market, XRP continue to exist and to bargain.”

Meanwhile, Icahn has admitted to CNBC that he does not understand the connection between the blockchain and cryptocurrency.

“I don’t like cryptocurrencies just because I don’t understand them. How do you regulate them?”, he said, pointing to a series of scandals that shocked investors.

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