The host of the CNBC show “Mad Money”, Jim Cramer, has recommended that up to 5% of the portfolios be invested in cryptocurrency. Cramer stated that he owns Ethereum directly and confirmed that he believes in crypto.
Jim Cramer’s recommendation on crypto mapping
Mad Money host Jim Cramer shared his opinion on cryptocurrency investing Wednesday during his show’s “lighting round”, where he answered investment questions at a rapid pace.
As a former hedge fund manager, Cramer co-founded Thestreet.com, a financial news and literacy website.
He was asked if long-term individual investors should have some portfolio allocations in cryptocurrency. He was also asked if the Nasdaq-listed cryptocurrency exchange Coinbase (Nasdaq: COIN) was a good way to expose cryptocurrencies.
The Mad Money host said, “I think Coinbase is cheap. I don’t really care about management because I think they issued a lot of stocks in the beginning. I was against it. They should have been buyers, not sellers. “He continued,” I think the listing went very, very badly. I think the company is the … natural repository for crypto. “
When asked if investors should have cryptocurrencies in their portfolios, he said, “I own Ethereum directly,” added:
I think you should have up to 5% of your portfolio in crypto. I believe in crypto.
Cramer started investing in cryptocurrency late last year when he was looking for a way to hedge against inflation. In December, he admitted buying Bitcoin.
In March of this year, he said gold had let him down and that he was investing 5% of his portfolio in bitcoin. However, he said in June that he sold all of his BTC and then bought Ethereum, stressing that ETH was more of a currency than BTC.
What do you think of Jim Cramer’s advice? Let us know in the comments section below.
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