Originally published on: November 27, 2024
Bitcoin’s value has taken a slight dip, dropping by 2% on the same day Jim Cramer, a markets commentator on CNBC, suggested that cryptocurrencies should not be overlooked in an investor’s portfolio.
Cramer’s investment advice has garnered mixed reactions, with some dubbing him as unreliable. Despite this, he endorsed the ownership of cryptocurrencies during a recent episode of CNBC’s Mad Money. He emphasized the importance of including Bitcoin, Ethereum, and other digital currencies in one’s investment portfolio, especially as the US debt continues to rise.
As Bitcoin’s value fluctuates, currently standing at around $92,700 after reaching a high of $99,571, Cramer’s endorsement sparked a debate among internet users. Some suggested that Cramer should only highlight negative aspects of cryptocurrency, reflecting the “inverse Cramer” phenomenon.
Expressing his long-standing support for crypto, Cramer highlighted the appeal of digital assets as a hedge against economic uncertainties stemming from government policies. He also disclosed his own ownership of cryptocurrencies, citing concerns over the national debt as a driving factor.
Despite previously dismissing cryptocurrencies as lacking intrinsic value, Cramer has acknowledged his past misjudgments and acknowledged the potential for profits from owning digital assets. This evolving stance has led Cramer to advise audience members to consider investing in cryptocurrencies like Bitcoin.
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