Friday, February 26, 2021
pool-ads
Home Latest News Bitcoin CNBC’s Jim Cramer Doubles Down on Bitcoin

CNBC’s Jim Cramer Doubles Down on Bitcoin

Jim Cromer has put his weight behind Bitcoin and is the new household name on Wall Street. Recently, the CNBC anchor and former hedge fund manager told the outlet he founded, The Lane, that he is buying more Bitcoin.

During recent weeks and months, Bitcoin has seen heavy adoption on Wall Street. It started earlier this year with a billionaire investor, Paul Tudor Jones, declaring that he feels the cryptocurrency in the new macro environment will be the fastest horse in the race. This has been accompanied by other famous names such as Stanley Druckenmiller and Anthony Scaramucci, all of whom have announced that they believe the bitcoin is extremely viable as the U.S. dollar declines.

Jim Cramer recently revealed that he is purchasing or has recently bought more Bitcoin. He thinks that as a diversifier, the cryptocurrency makes sense, adding that the cryptocurrency is not a “big position for me” but is also part of his asset balance. Cramer noted that he still owns gold, perhaps due to how all assets are viewed as hedges.

Due to historical precedent, Cramer added that he purchased at current rates, pointing to how Bitcoin moves largely volatile but higher over longer periods of time.

Subscribe to our newsletter

To be updated with all the latest news, offers and special announcements.

SourceNewsBTC

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -
magazine-ads

Must Read

Bitcoin’s Rise Should Make Regulators Ask if the Fed’s Policies Have...

0
While dismissing the possibility of bitcoin (BTC) displacing the U.S. dollar's reserve status, at least for now, for policy makers, "the best reason to...