The billionaire told Bloomberg that he is ready to make an entry into the crypto market in a “big way.” However, on the flip side of his billion-dollar investment, Icahn noted that “much of the cryptocurrency issued today will not survive.”

According to Forbes, Icahn, who was a former advisor to the Trump administration, has a net worth of $15.6 billion. Back in 2018, he told CNBC that the crypto sector was “ridiculous” and “maybe I’m too old for them, but I wouldn’t touch that stuff.” It appears the billionaire is having a change of heart seeing the number of institutional investors the market has attracted. Speaking to Bloomberg on Wednesday, he said:

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