Jim Cramer says crypto shouldn’t be treated as a safe investment
CNBC host Jim Cramer says people shouldn’t be discouraged from investing in cryptocurrencies as long as they realize the risks associated with them
CNBC host Jim Cramer shared his current stance on cryptocurrencies in a recent interview, saying people should be free to invest in the nascent asset class as long as they don’t perceive it as a safe investment.
“It’s not Coca-Cola, it’s not Apple,” said the famous stock picker.
Cramer says crypto should only make up a small portion of his portfolio. He personally does not recommend allocating more than 5% to cryptocurrencies. Cramer also criticized the idea of borrowing money to invest in crypto.
Host “Mad Money” considers Bitcoin and Ethereum to be the “most legit” cryptocurrencies.
As reported by U.Today, Cramer has repeatedly criticized the Dogecoin cryptocurrency. In January, he suggested that the Bitcoin parody might be an unregistered title.
Cramer is convinced that cryptocurrencies could be widely adopted in the future. The well-known stock picker continues to hold Ether after buying it due to his interest in non-fungible tokens.
Despite the generalization of cryptocurrencies in 2021, Cramer still believes that new fortunes could be made in cryptocurrencies.
Bitcoin and Ether are down 56.22% and 63.20%, respectively, from their highs recorded in early November.
Cramer has been critical of Bitcoin in the past, but changed his tune in 2020 and bought the biggest cryptocurrency for the first time.