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.
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Jim Cramer’s Advice on Crypto Investing
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 person’s diversified portfolio,” he began, elaborando:
I can’t 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 wouldn’t let me do dollars,” he noted. “I had to buy it in ethereum, so I researched it, and it’s got some qualities I like: scarcity value, not as hot — so to speak — as bitcoin (BTC). Asi que, I bought it.”
While noting that crypto is speculative, he said it is okay to invest in speculative assets. Sin embargo, el esta estresado, “You must admit that it’s speculative,” enfatizando: “Don’t put it in the Procter & Gamble class. It’s not Coca-Cola. It’s not Apple.”
He further noted that ever since crypto came along, he has been recommending putting 5% of portfolios in crypto y 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, agregando:
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 don’t 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 … I’d like that to be you.
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Créditos de imagen: Shutterstock, pixabay, Wiki Commons, CNBC
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