Carl Icahn: Bitcoin And Cryptocurrencies Are ‘Ridiculous’”

HP Shareholders Carl Icahn

In a recent interview with CNBC, Billionaire investor Carl Icahn says he doesn’t like bitcoin and other cryptocurrencies, calling them “ridiculous.” He also added, “Maybe I’m too old for them. I wouldn’t touch that stuff.”

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Here’s an excerpt from that interview:

Carl Icahn told CNBC on Tuesday that he has an unfavorable view of bitcoin and other cryptocurrencies, calling them “ridiculous.”

“I don’t like the cryptocurrencies only because, maybe I don’t understand them,” the chairman of Icahn Enterprises said in an interview on “Fast Money Halftime Report.” “How do you regulate them?”

“Maybe I’m too old for them,” Icahn said, “but I wouldn’t touch that stuff.”

Bitcoin was recovering from three-month lows Tuesday, trading near the $7,000 level, according to CoinDesk. Bitcoin and other cryptocurrencies have dipped in recent weeks amid worries about increased regulation.

Despite bitcoin’s popularity, there are also more big-name naysayers.

At the World Economic Forum in Davos, Switzerland, last month, bitcoin was hammered by many top business leaders.

J.P. Morgan Chase Chairman and CEO Jamie Dimon has said virtual currencies would never be a major competitor to the dollar. But he’s indicated blockchain could be used for more efficient transactions. Dimon recently said he regrets calling bitcoin a “fraud” back in September.

Last month, billionaire investor Warren Buffett told CNBC he believes the recent craze over bitcoin and other cryptocurrencies won’t end well.

Even late last year, Icahn said bitcoin seemed “like a bubble.”

Icahn is a noted activist investor. He became an advisor on regulation to President Donald Trump but resigned in August.

You can watch the entire interview here:


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The Acquirer's Multiple
The Acquirer’s Multiple® is the valuation ratio used to find attractive takeover candidates. It examines several financial statement items that other multiples like the price-to-earnings ratio do not, including debt, preferred stock, and minority interests; and interest, tax, depreciation, amortization. The Acquirer’s Multiple® is calculated as follows: Enterprise Value / Operating Earnings* It is based on the investment strategy described in the book Deep Value: Why Activist Investors and Other Contrarians Battle for Control of Losing Corporations, written by Tobias Carlisle, founder of The Acquirer’s Multiple® differs from The Magic Formula® Earnings Yield because The Acquirer’s Multiple® uses operating earnings in place of EBIT. Operating earnings is constructed from the top of the income statement down, where EBIT is constructed from the bottom up. Calculating operating earnings from the top down standardizes the metric, making a comparison across companies, industries and sectors possible, and, by excluding special items–earnings that a company does not expect to recur in future years–ensures that these earnings are related only to operations. Similarly, The Acquirer’s Multiple® differs from the ordinary enterprise multiple because it uses operating earnings in place of EBITDA, which is also constructed from the bottom up. Tobias Carlisle is also the Chief Investment Officer of Carbon Beach Asset Management LLC. He's best known as the author of the well regarded Deep Value website Greenbackd, the book Deep Value: Why Activists Investors and Other Contrarians Battle for Control of Losing Corporations (2014, Wiley Finance), and Quantitative Value: A Practitioner’s Guide to Automating Intelligent Investment and Eliminating Behavioral Errors (2012, Wiley Finance). He has extensive experience in investment management, business valuation, public company corporate governance, and corporate law. Articles written for Seeking Alpha are provided by the team of analysts at, home of The Acquirer's Multiple Deep Value Stock Screener. All metrics use trailing twelve month or most recent quarter data. * The screener uses the CRSP/Compustat merged database “OIADP” line item defined as “Operating Income After Depreciation.”

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