{"id":19428,"date":"2022-06-10T05:19:53","date_gmt":"2022-06-10T05:19:53","guid":{"rendered":"https:\/\/egrowonline.com\/?p=19428"},"modified":"2022-06-10T05:19:53","modified_gmt":"2022-06-10T05:19:53","slug":"mad-moneys-jim-cramer-offers-advice-on-cryptocurrency-investing-featured-bitcoin-news","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=19428","title":{"rendered":"Mad Money’s Jim Cramer Offers Advice on Cryptocurrency Investing \u2013 Featured Bitcoin News"},"content":{"rendered":"


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The host of Mad Money, Jim Cramer, has some advice for cryptocurrency investors. \u201cI would never discourage you from buying crypto,\u201d he said, adding that he himself owns ethereum.<\/strong><\/p>\n

Jim Cramer\u2019s Advice on Crypto Investing<\/h2>\n

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.<\/p>\n

\u201cI think crypto should be part of a person\u2019s diversified portfolio,\u201d he began, elaborating:<\/p>\n

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I can\u2019t tell you not to own crypto. I own crypto. I own ethereum.<\/p>\n<\/blockquote>\n

He explained that he bought ether (ETH<\/a>) because he wanted to buy a non-fungible token (NFT) for a charity. \u201cBut, they wouldn\u2019t let me do dollars,\u201d he noted. \u201cI had to buy it in ethereum, so I researched it, and it\u2019s got some qualities I like: scarcity value, not as hot \u2014 so to speak \u2014 as bitcoin (BTC<\/a>). So, I bought it.\u201d<\/p>\n

While noting that crypto is speculative, he said it is okay to invest in speculative assets. However, he stressed, \u201cYou must admit that it\u2019s speculative,\u201d emphasizing: \u201cDon\u2019t put it in the Procter & Gamble class. It\u2019s not Coca-Cola. It\u2019s not Apple.\u201d<\/p>\n

He further noted that ever since crypto came along, he has been recommending putting 5% of portfolios in crypto<\/a> and 5% in gold, instead of putting 10% in gold.<\/p>\n

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. \u201cYou have every right to try to make money in crypto,\u201d he said, adding:<\/p>\n

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I would prefer that you would do it in ethereum or bitcoin, which have the largest followings \u2026 I would be careful.<\/p>\n<\/blockquote>\n

Cramer further warned that investors should not borrow money to buy crypto. \u201cBorrow for your house, borrow for your car \u2014 but don\u2019t borrow for crypto,\u201d the Mad Money host emphasized, concluding:<\/p>\n

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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 \u2026 I\u2019d like that to be you.<\/p>\n<\/blockquote>\n

What do you think about Jim Cramer\u2019s comments? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA 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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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons, CNBC<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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