Mad Money’s Jim Cramer Offers Advice on Cryptocurrency Investing Featured Bitcoin News – Bitcoin News

The host of Mad Money, Jim Cramer, has some advice for cryptocurrency investors. I would never discourage you from buying crypto, he said, adding that he himself owns ethereum.

Jim Cramer, the host of Mad Money, gave some advice regarding cryptocurrency investing on CNBC Make It Wednesday. Cramer is a former hedge fund manager who co-founded Thestreet.com, a financial news and literacy website.

I think crypto should be part of a persons diversified portfolio, he began, elaborating:

I cant tell you not to own crypto. I own crypto. I own ethereum.

He explained that he bought ether (ETH) because he wanted to buy a non-fungible token (NFT) for a charity. But, they wouldnt let me do dollars, he noted. I had to buy it in ethereum, so I researched it, and its got some qualities I like: scarcity value, not as hot so to speak as bitcoin (BTC). So, I bought it.

While noting that crypto is speculative, he said it is okay to invest in speculative assets. However, he stressed, You must admit that its speculative, emphasizing: Dont put it in the Procter & Gamble class. Its not Coca-Cola. Its not Apple.

He further noted that ever since crypto came along, he has been recommending putting 5% of portfolios in crypto and 5% in gold, instead of putting 10% in gold.

While he admitted that he has no idea what the value of crypto will be, he acknowledged that many people have made a fortune with crypto. You have every right to try to make money in crypto, he said, adding:

I would prefer that you would do it in ethereum or bitcoin, which have the largest followings I would be careful.

Cramer further warned that investors should not borrow money to buy crypto. Borrow for your house, borrow for your car but dont borrow for crypto, the Mad Money host emphasized, concluding:

I would never discourage you from buying crypto because of all the fortunes that have been made there, and how it could make a whole new group of people fortunes Id like that to be you.

What do you think about Jim Cramers comments? Let us know in the comments section below.

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Mad Money's Jim Cramer Offers Advice on Cryptocurrency Investing Featured Bitcoin News - Bitcoin News