December 14, 2020 at 10:50AM
Three months after seemingly changing course on crypto, the outspoken host of CNBC’s Mad Money is claiming he made a well-timed Bitcoin investment on Friday. In an interview with TheStreet, Jim Cramer says he purchased Bitcoin (BTC) Friday morning when the price dipped under $18,000. The Mad Money host added he was treating the crypto asset as any other investment in a diverse portfolio.
“I will buy — like I usually do — as something comes down,” said Cramer. “I’ll get bigger and bigger and bigger. I just think that you want to diversify into all sorts of asset classes. I have gold. I’m going to diversify into some Bitcoin — not a big position for me — but it’s certainly important to be diversified, and Bitcoin is an asset and I want to have a balance of assets.”
Cramer said he believed the price of Bitcoin might “come down again” given its volatile history. However, he personally saw the $17,000s — the price when he claimed to purchase more BTC — as a “decent level”:
The CNBC host was once an outspoken Bitcoin critic prior to the 2017 boom, saying that the crypto asset was going to “run out of steam. However, since being a guest on Bitcoin bull Anthony “Pomp” Pompliano’s podcast in September, Cramer has said he might invest 1% of his portfolio in Bitcoin. The price of Bitcoin is $19,192 at the time of publication, having risen 2.6% in the last 24 hours.
Jim Cramer bought Bitcoin while ‘off nicely from the top’ in $17,000s, Cointelegraph, Dec 14
From: The FxPro News Team https://fxpro.news/daily-forex-outlook/jim-cramer-bought-bitcoin-while-off-nicely-from-the-top-in-17000s-20201214/
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