Former hedge fund manager Jim Cramer elucidates in an interview about the reasons that pushed his decision relating to investments in Bitcoin on December 11. Jim Cramer is the host of the CNBC show “Mad Money w/ Jim Cramer. ” He is also a co-anchor of CNBC’s Squawk on the Street. In addition, he is the co-founder of the financial news website TheStreet. In an interview with TheStreet, Jim Cramer says he purchased Bitcoin (BTC) on Friday morning when the price dropped below $18,000. The Mad Money host appended that he treats the crypto asset like any other investment in a diverse portfolio.
Jim Cramer looks forward to massive crypto investments in the future.
According to Jim Cramer, cryptocurrency is a great pick for maintaining a diversified portfolio. He further states that he doesn’t own a huge amount of crypto in his assets portfolio but intends to do so. He stated about holding a chunk of investment in gold as well. Cramer explained forecasting the Bitcoin’s price might dip again as a result of volatile history. Nevertheless, he individually witnessed the $ 17,000’s price rally; he alleged to hoard more BTC at a decent level.
However, Jim Cramer has not been quite an advocate of crypto assets earlier. It was in September this year that Cramer proclaimed himself a gold bug. He announced it during a podcast interview with Anthony Pompliano. Nevertheless, since being a guest on Bitcoin bull Anthony “Pomp” Pompliano’s podcast in September, Cramer has stated he might fund 1% of his portfolio in Bitcoin. The price of Bitcoin is $19,192 at the time of publication, having risen 2.6% in the last 24 hours.
Jim Cramer is not the sole one who has turned from a bitcoin critic to an investor. Larry Fink, the CEO of BlackRock, scrutinized Bitcoin over the years. Moreover, in October 2017, Fink declared Bitcoin as a means for money laundering. In 2018, he announced that the government would not support handling such assets. Nevertheless, recently he bestowed his view on bitcoin. Furthermore, he exhibited his enthusiasm for the future of Bitcoin and other cryptos. Larry Fink describes the potentials of Bitcoin and the cryptocurrency industry to develop into a mainstream marketplace.
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