Advertisement

“Mad money“ host Jim Cramer U-turns on his negative bitcoin ideology 

“Mad money“ host Jim Cramer U-turns on his negative bitcoin ideology 
  • Jim Cramer, the host of the CNBC show “mad money“ has given harsh words on bitcoin over the years and even compared it to an “outlaw currency“. 
  • But as the industry has grown and changed, over the course of this year in particular, it seems that Jim has changed his mind following an interview with Anthony Pompliano.

Jim Cramer, the host of the CNBC show “mad money“ has given harsh words on bitcoin over the years and even compared it to an “outlaw currency“. But as the industry has grown and changed, over the course of this year in particular, it seems that Jim has changed his mind following an interview with Anthony Pompliano. It seems that now, he is convinced that bitcoin is a prudent investment against the hedge of endless money being printed by central bankers following the coronavirus pandemic.

Speaking in the latest episode of the Pomp podcast, he explained why he had decided to invest in a leading cryptocurrency after many years of scepticism and negative words being thrown towards the industry.

Jim stated that he believes that the fixed supply of bitcoin posted ahead of other Fiat currencies as well as other asset classes in general. He particularly mentioned the federal reserve and their decision to only share a $3 trillion stimulus package in the United States due to the pandemic and the financial turmoil that has come as a result.

On the podcast he said:

“For a long time, people would say ‘well, how about Bitcoin’, and I said ‘well I don’t trade coffee and I don’t trade cotton, and I don’t trade bitcoin,’ and that sufficed for a very long time. It worked until the $3 trln dollar package because we don’t have that. We don’t have three trillion in this country.”

The two also went on to discuss wealth preservation and how it changes over different generations. He noted that until now, only golden real estate had been his main investments and they had been very good in order to protect his wealth against inflation.

Talking about his own children and how they would prefer their inheritance, Jim said that they would not feel as good holding gold compared to the leading cryptocurrency as he said:

“I think that my kids, when they get my inheritance, won’t feel comfortable with gold, and will feel comfortable with crypto.”


It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

You can share this post!

Advertisement