Jim Cramer, CNBC Mad Money host, has been a silent advocate of Bitcoin (BTC). In fact, he just recently revealed that he was able to pay off his home mortgage through his investments in Bitcoin (BTC).
A couple of days ago, Cramer said he settled his mortgage by selling half of his Bitcoin investments, adding that because of this, he thinks he has won in this tricky venture.
He told his own network that although he may seem to be the only natural seller, it felt great to be able to pay off a mortgage. He added that it was like phony money was used to pay for real money and because he bought such a digital currency, he now owns a house.
Cramer’s Bitcoin Story
The host said that he purchased a major amount of Bitcoin back when it was still priced at around $12,000. It turned out to be a wise decision because now, the currency is sold at $64,829.
In selling half of his BTC holdings, Cramer trimmed positions to take profits after seeing considerable gains. Coincidentally, that’s the same advice he gives to his viewers on Mad Money.
For a while now, Cramer has been very vocal in his support of Bitcoin, going as far as saying that it is unwise to not include the cryptocurrency in a portfolio.
Bitcoin Commands Authority
Today, Bitcoin is gaining more and more authority because many investors are putting a decent portion of their cash into the crypto.
Michael Saylor, the Founder, and CEO of software firm MicroStrategy, was the first investor to bet on Bitcoin, while Tesla was the biggest.
Saylor is known to have put so much premium on Bitcoin, along with many investors, who have made efforts in borrowing money with low interest to buy more Bitcoins. That is simply because they believe that the leading cryptocurrency is a safe bet. It’s something that Cramer can also agree to.
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