Billionaire investor Carl Icahn said Monday he isn't buying bitcoin, but the digital asset could have value if inflation gets out of hand. "We do a lot, a lot of research and we find companies that we can understand, and I can't understand [bitcoin], I admit," said the chairman of Icahn Enterprises on CNBC's " Fast Money Halftime Report ." "I'm not saying it's bad or good. I'm just saying that we don't understand it and we're not going to invest in something we don't get." The longtime activist investor admitted the cryptocurrency could be a store of value if prices continue to rise. Some investors have said bitcoin has replaced gold as a hedge against inflation . "I think the jury is out on [bitcoin]," Icahn said. "If inflation gets rampant, I guess it does have value, but will inflation get rampant? Or will the government come in as they did in China and stop the thing. There's so many variables that it's a very difficult thing to invest in from my point of view." Bitcoin and other digital coins have ballooned in popularity in 2021 as investors hope for increased adoption of the asset and more cooperation from regulatory agencies like the Securities and Exchange Commission. Indeed, the first bitcoin futures ETF is slated to debut on Tuesday . Bitcoin is trading around $61,900, according to Coin Metrics. While Icahn is not buying the digital asset, he did say that money printing and rising inflation could cause markets to "hit the wall " in the long run. However, the investor still considers bitcoin to be a risky play that he likens to gambling. "You ask me about bitcoin, then I'm going to gamble. If I'm going to gamble I might as well go to Vegas," Icahn added.
Billionaire investor Carl Icahn said Monday he isn't buying bitcoin, but the digital asset could have value if inflation gets out of hand.