TV host Jim Cramer announced that he invested half a million dollars in Bitcoin after gold’s poor performance.
Interviewing Anthony Pompliano, co-founder of Morgan Creek Digital, Cramer said he notified his finance manager a few days ago of his $ 500,000 purchase of BTC.
“I called my finance manager and he said‘ Look, I talked to Pomp and I’m going to talk to you about the numbers tomorrow… I hope we won’t be in trouble, I want to invest half a million dollars here. You can do it in a few days, but I don’t want any longer than that. “I said.”
The host of the Mad Money program on CNBC says that he can turn his investment into cash and invest only in Bitcoin at the moment.
“I always tell people that if they want to do something with their house money, they can only get back what they put in. Then you do not want to realize the situation and get into this situation again. This is what I do. There were people who got angry that I didn’t get the money back. But right now, I’ll never be in this situation, Pomp. I am not in this situation and I will never be. ”
Cramer also announced his decision to invest in leading crypto assets. According to him, crypto assets can compensate for various shortcomings of gold.
“Over the years I have argued that gold should be bought. And what I realized with Bitcoin was that Bitcoin was really an asset I was looking for. Meanwhile, gold disappointed me. Too many variables can be involved. It depends on mining problems. It can disappoint you in many situations. ”
In addition, Cramer offered a recommendation to investors.
With this advice, he tells the investors that they should reduce their investments in gold to 50 percent and direct the remaining balance to Bitcoin.
“Since 1983, I have argued that 10 percent should be gold. Now I am saying that 5 percent gold and the remaining 5 percent bitcoin should be bought. “