Bitcoin is Now on Former Hedge Fund Manager Jim Cramer’s Investment Menu
On the latest episode of The Pomp Podcast, Anthony Pompliano tried to convert the guest Jim Cramer into a Bitcoiner.
CNBC's Mad Money fame, Cramer is a former hedge fund manager who back in 2016 showed his bullishness towards BTC by calling out for $1 million only to get his bears out the following year when the digital asset went under $6,000.
But this time, the co-founder of TheStreet.com got a much-needed lesson to understand Bitcoin, and now he believes buying bitcoin is actually “prudent.”
What changed his mind is the three billion dollars that the central bank printed, which he said: “changed everything.” “I am concerned that I am not being prudent, and I now think that Bitcoin is prudent,” said Cramer.
Still thinking bitcoinhttps://t.co/5wjoZUjd0v
— Jim Cramer (@jimcramer) September 14, 2020
His idea is to have his inheritance in something his kids will be comfortable with, and it isn’t gold but cryptocurrency.
“I’m going to buy it [Bitcoin] in stages…” he said and that he would keep it untouched for his kids until 2030.
On his investment menu, he had the traditional assets – gold, masterpieces, mansions, and real estate. But what his inflation handbook didn’t have was crypto.
He said gold and crypto belongs to the same category and that one has to “have one or the other.” Cramer said in the light of the current macro environment.
“We're on a collision course, which makes me feel great about the gold I own, but I do feel that it's perfectly logical to add crypto to the menu.”