The host of the popular American TV show ” Mad Money” Jim Crammer had something interesting to say about investing in cryptocurrency on “CNBC Make It Wednesday.” Incidentally, Cramer managed a hedge fund in the past and was the co-founder of a financial literacy and news portal called Thestreet.com.
Crammer feels cryptocurrencies should be part of your investment portfolio
The host feels that digital currency should a part of the diversified portfolio of a person. Cramer also added he cannot discourage someone from owning cryptocurrency while he does so. Cramer has invested in popular digital currencies, such as Ethereum, by his admission.
He elaborated he purchased Eth or ether as he wished to purchase an NFT for a charitable cause. However, he could not use dollars to purchase it. Instead, he had to purchase the NFT in ETH, and that made him do some research about it. He felt ether had qualities, such as scarcity value, that made him purchase it.
He admitted cryptocurrencies are speculative. However, the host sees no harm in putting your money on speculative assets. He emphasized not to put crypto in the same bracket as Apple, Coca-Cola, or Procter & Gamble.
Cramer also stated that after cryptocurrencies gained popularity, he has been suggesting investors put 5 percent of their portfolios in gold and 5 percent in digital currencies rather than investing 10 percent in gold.
However, he confessed he was clueless about the value of cryptocurrencies. At the same time, he admitted that innumerable investors had hit the jackpot by investing in cryptocurrencies.
