Why Brad Gerstner Is So Bullish On Bitcoin And The Future Of Cryptocurrency

Speaking on CNBC Monday, longtime activist investor Carl Icahn said Bitcoin (CRYPTO: BTC) is "a very difficult thing to invest in." Although Icahn noted he had spent a considerable amount of time researching Bitcoin, he told CNBC "the jury is still out" on the popular cryptocurrency.

Altimeter Capital founder and CEO Brad Gerstner disagrees with Icahn when it comes to cryptocurrencies overall.

"The jury may be out on whether or not Bitcoin goes up and down over the next 90 days, but the jury is not out on whether or not crypto is one of the most fundamental technical changes that I've seen over my investment career," Gerstner said Tuesday on CNBC's "Fast Money Halftime Report."

He told CNBC he always tries to invest where the world's best engineers are going.

"If the world's best engineers are going to Alphabet invest in Google. If they're going to Facebook, invest in Facebook. If they're going to Snowflake, invest in Snowflake," Gerstner said. "The world's best engineers today are all going into crypto."

See Also: 7 Stocks That Could Capitalize On First Bitcoin ETF's Debut

Cryptocurrencyypto provides an opportunity to reinvent the internet, Gerstner said. He has seen more innovation and development in the cryptocurrency space over the last two years than he saw over the previous eight years.

"It's that level of innovation and that level of evolution in the utility of this thing that causes us to be pretty excited about crypto."

BTC Price Action: Bitcoin is up 118.45% year-to-date.

At the time of publication, Bitcoin was up 2.22% at $63,310 over a 24-hour period.

Photo: kevin tatchinda fogue from Pixabay.