The host of CNBC’s ‘Mad Money,’ Jim Cramer, has spoken positively about Bitcoin. In his recent tweet, Cramer called Bitcoin “a great alternative” to gold. He says that he had always believed the fact and said that it is not too late to buy bitcoin.
In September this year, Cramer called himself a gold bug, for he has “so much gold,” which he unveiled in a podcast interview with Anthony Pompliano. At the time, he emphasized that crypto was an essential step against inflation. Cramer said that he was “fixated” on needing to own crypto, for he feared massive inflation amounts.
The host was formerly skeptical of Bitcoin during the previous Bull Run; he told Pompliano about how he felt that his “kids will understand” Bitcoin “as a hedge to inflation,” and that they will not understand gold.
By the time Cramer stated that he would buy bitcoin and that fluctuation of BTC price didn’t worry him, it will be a part of his portfolio as an alternative asset for hedging purposes.
When Bitcoin fell below $6,000, Jim Cramer said that the “tide has turned against BTC and said that though its time has not yet passed but that the “sun seems to be setting.”
Similarly, macro investor Dan Tapiero estimated that about $15T in wealth could flow into bitcoin and gold in the next ten years. He also predicted that financial institutions could invest up to 10% of their portfolios in gold and 5% in Bitcoin.
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