Activist investor Carl Icahn is keeping a watch on Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) and could get jump on to the cryptocurrency bandwagon in a "big way."

Icahn said he believes investors are looking at alternative currencies as parts of the equities market are being traded at “ridiculous prices.” 

See also: How to Buy Bitcoin (BTC)

“Well, what’s the value of a dollar? The only value of the dollar is because you can use it to pay taxes,” Icahn told Bloomberg. “I’m looking at the whole business, and how I might get involved in it.”

See Also: Billionaire Ray Dalio Owns Bitcoin, Thinks It's Better Than Bonds

Why It Matters: Cryptocurrencies have been seeing mainstream limelight of late, especially following Tesla Inc. (NASDAQ:TSLA) and its CEO Elon Musk showing heightened interest.

Earlier this week, billionaire and one of the world's richest hedge fund managers, Ray Dalio, disclosed that he holds “some Bitcoin” and prefers Bitcoin to government bonds.

Cryptocurrencies are gaining popularity as investors, both retail and institutional ones, increasingly look to diversify assets beyond the usual asset classes comprising equities, fixed income, property, and cash.

Price Action: Bitcoin was trading 1% lower at $38,349.76 at press time on Wednesday. Ethereum was down 0.30% at $2,741.