Jim Cramer – the famous host of Mad Money TV show has advice specifically for those who are frequent crypto investors. He believes that the crypto investment scenario is very much rely upon the fool’s good theory. So for those who are investing in crypto keeping in mind this theory have my blessings because they are doing the right thing, said Cramer. He also revealed investing a portion of his wealth into Ether coins relying on the same theory that at some point in time his thousands of dollars investment will worth millions of dollars.
The “Mad Money” TV show’s host, Jim Cramer, always has advice for everyone. However, crypto investment is one of his most preferred topic these days. He has been seen often suggesting people to invest in crypto because they will remember him one day.
Recently at CNBC, he was again seen talking about crypto and, as always, he had a piece of advice for crypto investors.
Cramer said on CNBC that the entire investment crypto scenario very much relies on the “fool’s gold” theory. People have been investing in Bitcoin simply because they believe that one day Bitcoin’s value will be million dollars. So those who are expecting that they will discover the fool’s gold then they have his blessings.
Of course, in his remarks, he is regarding crypto assets as the “fool’s gold”. He said that like others he too is a strong believer that at a belated stage crypto prices would certainly go up. There will always be a person willing to buy virtual currency at a higher price, said Cramer.
He added that he has met with a number of people in his life who are in the habit of saying foolish things about virtual assets. However, with the passage of time, he himself is convinced to acknowledge their foolish-looking ideas. This is the very reason why he has recently purchased a few Ether coins for himself, revealed Cramer. He said that he may have invested thousands today but he is optimistic that he will receive millions in the future.
He again reiterated his earlier advice in which he had said everyone should use 5% of their wealth into Bitcoin or Ether. He said he would still suggest that crypto investment shouldn’t be taken for granted.
As regards his crypto investment, he told specifically that he doesn’t invest in crypto as hedge against inflation. Instead, he takes the crypto investment as “gambling”. He said that whenever he decides to invest in crypto, he first tries to understand the psychology of people.
In the end he said that he will keep his Ether coins for long-term investment strategy. He would sell them only when he would see his thousands of dollars investment turning into millions of dollars.