Well-known CNBC host Jim Cramer claimed that on Friday, he bought more Bitcoin just in time.
Specifically, in an interview with Katherine Ross, a correspondent for TheStreet, Jim Cramer said that he bought more Bitcoin (BTC) on Friday morning. When the price fell below $ 18,000.
To remember, Cramer is the host of the CNBC show “Mad Money w / Jim Cramer.” He is also the co-host of CNBC’s “Squawk on the Street.” As well as co-founder of the financial news website TheStreet.
Jim Cramer buys more Bitcoin
The Mad Money host indicated that he was treating Bitcoin like any other investment.
«I will buy, as I usually do, when something goes down. I am going to diversify into Bitcoin. It’s not a great position for me, but it’s certainly important».
Jim Cramer, indicated that he believed that the price of Bitcoin could go down again. Nonetheless, he personally saw $ 17,000, the price when he claimed to buy more Bitcoin, as a decent level.
Bitcoin is far from the maximum. Therefore, I like to buy something that is far from the maximum.
Your previous position on BTC
In fact, he was previously an outspoken critic of Bitcoin, stating that the crypto asset was going to run out of steam.
Also, in 2017, on the CNBC show “Squawk on the Street,” Cramer stated that demand for Bitcoin was increasing. As a consequence, it is possible that the price of Bitcoin will reach $ 1 million in the future.
In another observation, Cramer suggested that he was not a huge fan of Cryptocurrency. In particular, in August 2018, he commented: «I think the tide has turned against him. I’m not saying that time has passed, but there is an idea that the sun seems to be setting».
However, in September, when he participated in the podcast of Anthony Pompliano, Cramer expressed that he could invest 1% in Bitcoin (BTC). Thus, he cited the importance of protecting against inflation.
In this regard, Jim Cramer said, that he is attracted to Bitcoin. Mainly, due to its demonstrated ability to increase its value and at the same time act as a hedge against inflation.
«I worry that I am not being cautious. And now I think Bitcoin is prudent.
As a fun fact, Anthony Pompliano seemed pleased to have persuaded Jim Cramer:
«I just convinced Jim Cramer to buy Bitcoin».
However, now Jim Cramer seems to be joining the growing list of investors and millionaires who regard Bitcoin as a valuable asset. Especially in modern times.
To conclude, Jim Cramer said that his investment in Bitcoin, could become «getting bigger and bigger». Do you agree? Leave us your opinion in the comment box.
I say goodbye, but not before leaving you this phrase by Albert Einstein: «The mind that opens to a new idea will never return to its original size».