Jim Cramer: Buy Art, Real Estate, Gold and Invest 5% in Bitcoin

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Jim Cramer, presenter of the highly popular Mad Money show in the US, owner of popular website The Street and a wealth adviser for two decades for many Americans, is slowly turning into a Bitcoin bull. In September of last year, he admitted that his kids were comfortable with crypto and only a few weeks ago said that gold was possibly dropping because of the popularity of Bitcoin and other digital currencies.

By now, he has taken over the same advice that Paul Tudor Jones, the legendary Wall Street fund manager, and gives his clients: invest 5% in Bitcoin. Only difference is that Cramer admits this is only a risk worth taking if you’re already rich.

Mad Money

The presenter has been known for decades and although he once got into a very public fight with Daily Show host Jon Stwart during the 2007-2008 financial crisis, he’s been able to survive and regain the trust of the American public. The reach of his show is very great given that the people who watch Mad Money normally are all looking for investment advice.

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This week, he had a funny segment explaining how he would spread his Powerball winnings (an unknown man in Maryland had just hit the jackpot) in order to hedge against inflation.

Cramer explained that:

When you are super rich like this, your main worry is not the tax man, you gotta be worried about inflation, more specifically hyperinflation.

The presenter spread a possible portfolio into real estate, art (Van Gogh, Pollock or whatever is to your liking), some gold and in the end came the kicker:

yes, I’m gonna say it , 5% in Bitcoin, don’t buy it all at once, crypto can be incredibly volatile, don’t but it in the weekend, it’s an important new storehold of value.

.@jimcramer: “If you’re already rich, you have to worry about inflation the same way Superman worries about kryptonite…it’s the only thing that can really wipe you out given how we’re spending like drunken sailors…5% in #bitcoin…it’s an important new storehold of value.” pic.twitter.com/vE4uVKj2rY

— Swan 🦢 SwanBitcoin.com 🚀 (@SwanBitcoin) January 22, 2021

The cryptosphere reacted with delight to Cramer slowly turning into a Bitcoin bull. Wolf of All Streets Scott Melker praised Cramer for changing his mind and a French commenter hoped that one day Europe would have their own version of the Mad Money show.

The Bitcoin price is currently around $32,700, down 1% for the day and down 5,55% this week.

EdZbarzhyvetsky / Depositphotos.com