According to the latest news, Jim Cramer, the host of CNBC’s Mad Money, noted he might invest 1% of his net worth in BTC. A well-known investor announced comparisons among Bitcoin and gold and cited the importance of hedging against inflation.
During a podcast with Anthony Pompliano, Cramer stated he would “take a shot at that with 1%.”
Investors view cryptocurrencies as ponzi schemes
Significantly, after leading up to BTC’s 2017 bull run, Bloomberg, CNBC, and institutional analysts have been extremely critical of the digital asset. Most of them were considering that cryptocurrencies were Ponzi schemes, scams, or unsustainable.
Besides, Some investors view safe-haven assets like gold as the go-to hedge against inflation; however, they do not invest in these assets expecting significant returns.
Speaking with Pompliano, the host reported he is drawn to BTC by its confirmed ability to grow in value while also acting as an inflation hedge.
Cramer is not the only investor who is considering opening a long position in BTC. Some billionaire investors, for example, Paul Tudor Jones, are beginning to invest in BTC. Multi-billion dollar public companies are also starting to invest in BTC.
Michael Saylor, MicroStrategy Geo, reported on September 16 that the firm now holds 38,250 BTC. Based on Bitcoin’s current price ($10,800), the stake is worth $413.1 million.
According to Cramer, gold is risky for kids to hold, which makes Bitcoin more attractive. Cramer announced:
“my kids will never understand gold. And the purpose they will never experience gold is they think gold is dangerous. It’s risky because it can be stolen, it’s dangerous because they don’t want to take it out of the bank, it’s risky because they may forget where it is.”