Jim Cramer Says Unlike Gold And Stock Bitcoin Helped Him Make Huge Money
Jim Cramer, a host on CNBC, has announced that he has made a huge amount of money from the BTC market, but gold has been a disappointment.
In one of the episodes of a podcast tagged Pomp published on Monday 22nd March, Cramer expressed his gratitude to Anthony Pompliano, the podcast host, for the inspiration to consider investing about half a million dollars in the BTC market.
Cramer gave a “Thank you” after buying BTC
Cramer is a renowned pundit in the mainstream media relating to finance and became very familiar to the Bitcoin community after featuring in a Pomp Podcast back in September last year. His recent appearance, however, gave him a nudged advantage over other presenters in the CNBC when it comes to following the BTC bullish run.
Moving forward, he noted that the world’s largest digital currency by market cap, bitcoin, has delivered more than stock and gold has done for him in the market. Cramer, talking to Pompliano, said that much more than the timeframe you gave me, it happened faster, and I am grateful. But much more, my kids are grateful.
Talking about gold, the advice Cramer has adopted for about 30 years has been updated, and rather than setting 10% apart for gold, he mentioned that it would rather be 5% for Bitcoin and the remaining 5% Gold.
Despite Profit, Cramer’s Involvement is still Minimal
Though Cramer was not directly talking about the exact profit his investment in Bitcoin has gotten for him, the consideration of the timeframe hinted that the value of his investment is about $2,400,000 approximately. Fed Chair Powell Jerome earlier in the week has described BTC as a substantial alternative for gold while emphasizing that it is necessarily not a threat to USD.
Compared to many crypto investors, though, the volume of BTC Cramer is holding is small. Though according to a report from a popular crypto blog, the whales are weakened recently because they sell at every major rise in the Bitcoin price.