As known from:
CoinWireICOBenchCoinCodex
Write a Review
Write a Review
Nothing Found
Contains commercial content
TradersBest.com / Mad Money host Jim Cramer Invests Heavily in Bitcoin

Mad Money host Jim Cramer Invests Heavily in Bitcoin

Publish Date: 26/03/2021

CNBC Mad Money host Jim Cramer has revealed that he invested $500,000 in Bitcoin after growing frustrated with gold’s disappointing performance.

The colorful TV presenter made the revelation during an online interview with Morgan Creek Digital co-founder Anthony Pompliano, a notable Bitcoin bull. He said Pompliano had convinced him to buy Bitcoin, so he called his chief financial officer and told him to make the investment.

He also revealed that he has since cashed out his initial investment, leaving him with a moon bag that has simply continued to grow.

“I have always said to people, listen, if you could ever be in a situation where you can play with the house’s money, you take out what you put in, then you’re blessed and you never have to touch it,” said Cramer. “And that’s what I have done. There are a lot of people who are mad that I took out the money I put in. But now I’m never going to touch it, Pomp. I’m not and I may never.”

Gold 2.0

Cramer said his decision to invest in Bitcoin stemmed from a frustration with gold’s performance. He has long been bullish on gold due to the devaluation of the US dollar, but he has now admitted that it is “subject to too many vicissitudes”, such as mining issues.

He has been advising people to dedicate 10% of their portfolios to gold since 1983, but he has now changed his recommendation to 5% in gold and 5% in Bitcoin.

Over the past 12 months, gold has increased by 6.3% in value. In the same period, Bitcoin – dubbed digital gold – has soared by 700%, and it hit a new all-time high of $61,000 last weekend.

BTC has since endured a 12% correction, but that could be due to futures options expiring today, and most analysts expect the bull run to continue for several months.

Bitcoin Tipped to Soar Before Next Major Downturn

Several Bitcoin ETFs have launched over the past month and the number of institutional and corporate investors continues to grow. Global Macro Investor Raoul Pal also claims that Temasek, a Singapore sovereign wealth fund, has also been buying Bitcoin directly from miners.

Temasek controls more than $300 billion, and its investment could represent another major milestone for Bitcoin adoption. The fund has previously invested in Binance Singapore, so it is no stranger to the crypto space.

Analyst Bobby Lee, founder of crypto exchange BTCC, predicts that the price of Bitcoin could increase by another 500% before the next market downturn takes place. He expects it to reach $100,000 by the summer and believes it could hit $300,000 by the end of the year.

However, he warns that it will then crash by 90% and then stagnate for several years in a prolonged crypto winter. “After it peaks out – whether it’s $200,000, $100,000, or even $300,000 – people should be aware that it could fall by 80% to 90% of its value from its all-time peak,” said Lee.

Read Also
Robinhood Aims to Reach $35bn Valuation in Stock Market Debut
Robinhood, the popular US share trading platform, is hoping to be valued ...
Beeple Brands NFTs a “Bubble”
The artist known as Beeple shattered all records when his “Everydays” collection ...
Is It Too Late To Buy Bitcoin?
Bitcoin’s value hit a record high of over $61,000 on Saturday, and ...
MicroStrategy Raising $600m to Buy More Bitcoin
MicroStrategy has announced plans to raise $600 million in order to maintain ...
Bumble Shares Soar On First Day Of Nasdaq Trading
The craze for tech stocks continued apace when shares in dating app ...
Latest News
Study: how do finances shape our love life?
Do we find someone less attractive if they're ...
Is FTX Bankrupt? 
The crypto market has seen a drastic change ...
Disney Shares Jump 6% After Positive Earnings Report
A booming subscriber base and the return of ...
Alibaba Posts Flat Revenue Growth But Stock Still Jumps 6%
Chinese ecommerce giant Alibaba posted its first earnings ...
Intel Stock Slumps Over 8% Following Weak Earnings Report
Chip-maker Intel suffered a disastrous end to last ...
Top Forex Sites
Ally Invest
Ally Invest
Ally Invest Review
4.8/5
Webull
Webull
Webull Review
4.6/5
Kraken
Kraken
Kraken Review
4.3/5
Nadex
Nadex Review
3.6/5
Interactive Brokers
Interactive Brokers Review
4.8/5
Receive the latest trading news by email + our free eBook
Crypto eBook EN
Nobody is born a trading expert. Register now to receive the Ultimate Guide to Trading Cryptocurrencies in 2022 (and beyond), and receive the TradersBest.com newsletter with the latest market news and broker reviews!.

By registering, I agree that TradersBest.com may send me newsletters via email at regular intervals. This consent can be revoked at any time.
Receive the latest trading news by email + our free eBook
Nobody is born a trading expert. Register now to receive the Ultimate Guide to Trading Cryptocurrencies in 2022 (and beyond), and receive the TradersBest.com newsletter with the latest market news and broker reviews!.

By registering, I agree that TradersBest.com may send me newsletters via email at regular intervals. This consent can be revoked at any time.
Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Players must be 21 years of age or older or reach the minimum age for gambling in their respective state and located in jurisdictions where online gambling is legal. Please play responsibly. Bet with your head, not over it. If you or someone you know has a gambling problem, and wants help, call or visit: (a) the Council on Compulsive Gambling of New Jersey at 1-800-Gambler or www.800gambler.org; or (b) Gamblers Anonymous at 855-2-CALL-GA or www.gamblersanonymous.org.

Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

This site is using Cloudflare and adheres to the Google Safe Browsing Program. We adapted Google's Privacy Guidelines to keep your data safe at all times.

21+NCPG
Close
×
Your Promo Code:
The bonus offer of was already opened in an additional window. If not, you can open it also by clicking the following link:
Visit Site