- Crammer said, “In my opinion Bitcoin, Ethereum and maybe other cryptocurrencies should be included in your portfolio.
- Before this, he had also advised investors to sell the crypto as he believed that it held no real value.
- Some users also suggested Cramer publicize negative points as his publicization makes the opposite happen.
On November 26, the price of Bitcoin fell by 2%, and on the same day Jim Cramer, an American television personality said that every investor portfolio should include cryptocurrencies. Many people refer to the crammer’s advice as a wrong call as he has become a meme for the same.
A short-lived exchange-traded fund (ETF) that bet against his buy tips has so far failed miserably. Yesterday, in the Mad Money edition of CNBC, Cramer publicized possessing crypto as a hedge against a soaring debt as the overall debt of the United States went over $36 trillion.
Crammer said, “In my opinion Bitcoin, Ethereum and maybe other cryptocurrencies should be included in your portfolio, and if the debt is under control, I’ll take a different approach.”
Bitcoin price slipped by 2%
Talking about Bitcoin, it has slipped around 2% in the last 24 hours and at press time it is hovering around $93,088. On November 23, the largest cryptocurrency witnessed a peak of $99,571, after which the speculations of crossing the $100k mark also peaked. The overall market capitalization is also 0.65% down in the last 24 hours and is standing at $1.85T.
Apart from becoming a meme for his advice, some users also suggested Cramer publicize negative points as his publicization makes the opposite happen. The users referred to this phenomenon as the inverse Cramer effect.
According to Cramer, he has liked crypto for a very long time as he knows that there is a large sector of investors who wish to purchase something that can help safeguard them from the government’s busted budget.
He further went on to say “I still advise to own crypto because of the national debt concerns are never going to go away. I am going to name the top by suggesting it yet again. It is weird how I have been suggesting gold and crypto for so long, yet both of them are near all-time highs, and I take the fall.”
Crammer’s confused stance over crypto
On November 21, on Crammer’s show, he told a caller that they should buy Bitcoin at the time the price of the cryptocurrency hovered at the $98,000 mark. The TV host seems confused over the stance on crypto.
Before this, he had also advised investors to sell the crypto as he believed that it held no real value. After this statement, Cramer said that he was wrong and talked about making money from buying crypto.
