The host of CNBC’s Mad Money show Jim Cramer revealed that he cashed out half of his bitcoins to fully pay off his mortgage, calling the cryptocurrency a bargain.
Previously, Kramer was skeptical about Bitcoin and all cryptocurrencies in general, preferring to invest in gold. But over time, the TV presenter began to consider the first cryptocurrency as a means of protecting against inflation and diversifying the investment portfolio. Kramer said he bought bitcoin when it was worth about $ 12,000, but did not specify the exact number of coins purchased. Kramer decided to take profit when Bitcoin surpassed $ 60,000.
“Many people call bitcoin“ fake ”money, but in my case, they performed the function of real money. I know people will be mad at me for selling bitcoin, but I used it to pay off my mortgage. Now I have both a house and some crypto assets. I think I won by making a good deal, ”said Kramer.
He said that once, after an interview with Morgan Creek Digital co-founder Anthony Pompliano, Kramer was inspired by cryptocurrencies and advised his CTO to invest $ 500,000 in bitcoin. The host of the show even thought about investing 1% of his investment portfolio in this digital asset himself. In December, Kramer announced that he had bought additional bitcoins at a rate of about $ 17,000.
The TV host also commented on the stock market trading of Coinbase shares, saying that open-ended mutual funds have no other way to deal with cryptocurrencies. By investing in Coinbase stocks, Kramer said investors not only receive cryptocurrency, but they can also count on “fair governance.”
Perhaps the TV journalist decided to follow the recent recommendation of Ripple CTO David Schwartz, who suggested that users sell some of the cryptocurrencies.