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Home Latest News Business Jim Cramer bought Bitcoin while 'off nicely from the top' in $17,000s

Jim Cramer bought Bitcoin while ‘off nicely from the top’ in $17,000s

The outspoken host of CNBC’s Mad Money claimed that he made a well-timed Bitcoin investment on Friday.

According to Cointelegraph, in an interview with TheStreet, Jim Cramer says he purchased Bitcoin (BTC) Friday morning when the price dipped under $18,000. The Mad Money host also added that he was treating the crypto asset as any other investment in a diverse portfolio.

Cramer stated:

“I will buy — like I usually do — as something comes down. I’ll get bigger and bigger and bigger. I just think that you want to diversify into all sorts of asset classes. I have gold. I’m going to diversify into some Bitcoin — not a big position for me — but it’s certainly important to be diversified, and Bitcoin is an asset and I want to have a balance of assets.”

Cramer noted that he believed the price of Bitcoin might “come down again” given its volatile history. Nevertheless, he personally saw the $17,000s — the price when he claimed to purchase more BTC — as a “decent level”:

“[Bitcoin] is off nicely from the top. I like to buy something that’s off nicely from the top.”

The price of Bitcoin is $19,192 at the time of publication, having risen 2.6% in the last 24 hours.

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