Jim Cramer, the host of CNBC’s Mad Money Program, said he could invest 1 percent of his net worth in bitcoin (BTC). Making a comparison between gold and Bitcoin, the famous investor revealed the importance of protecting against inflation.
In a post with Anthony Pompliano, Cramer said he could try bitcoin with 1 investment on his face.
CNBC, Bloomberg, and corporate analytics have heavily seized on the cryptocurrency since it launched into the bitcoin bull market in 2017. his coins claimed the pyramid chain was fraudulent or unsustainable, but that rhetoric began to change in April 2019, when the coin began to rise from its $4,000 band.
Many investors consider safe-haven assets such as gold to protect against inflation but do not invest in those assets in anticipation of an immediate return.
Speaking to Pompliano, Cramer drew attention for showing that Bitcoin can be protected against inflation while its value rises:
“People are talking about the cyberattack of cryptocurrency, but you know what’s really bad? Your children can’t find your gold, which is not unprecedented. That’s why I’m obsessed with owning crypto because I’m afraid of inflation. He will continue to do his gold and real estate business. I’ll try with a 1 percent chance for the idea of making real money. “
During the sighting, Cramer explained that he was particularly concerned about hiding gold:
“My children will never understand what gold is because they think it’s dangerous. It’s dangerous because they can work and forget where it is. “
Kramer isn’t the only one considering long positions for Bitcoin. Billion-and even billion-dollar publicly traded companies like Paul Tudor Jones have also begun investing in Bitcoin.
