Crypto News

Jim Cramer bought Bitcoin while 'off nicely from the top' in $17,000s

The CNBC host said his Bitcoin portfolio could get “bigger and bigger and bigger.”

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”:

“[Bitcoin] is off nicely from the top. I like to buy something that’s off nicely from the top.”

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.

How useful was this post?

Click on a star to rate it!

As you found this post useful...

Follow us on social media!

Disclaimer: The opinions expressed within this article are the personal opinions of the author. The facts and opinions appearing in the article do not reflect the views of CoinChapter and CoinChapter does not assume any responsibility or liability for the same.

(This story has not been edited by CoinChapter staff and is auto-generated from a syndicated feed.)
0 Comments
Inline Feedbacks
View all comments
CoinChapter

Founded in 2015, Coinchapter.com has become one of the leading resources for the crypto asset community. Created by a small group of cryptocurrency enthusiasts, Coinchapter.com was built to provide new members of the crypto asset community with unbiased listings of cryptocurrency exchanges and retail options that would allow them to buy the crypto assets that they wanted, how they wanted and at the price they wanted.

Related Crypto News

PlayStation 5 Ethereum Mining Rumor Proven To Be False
A photo of what looks to be a PlayStation 5 hacked to mine Ethereum, with a hashrate of 98.76...
BlockFi Announces Record Payments For Clients In February
Crypto lending firm BlockFi posted another record-breaking month in February. The firm paid out over $35 million in interest...
Tezos Integrated Into Wolfram Blockchain Platform
Wolfram Blockchain Labs announced that its DLT will utilize the blockchain resources of TQ Tezos. Tezos blockchain is now...
Citigroup Believes Bitcoin Could Become Global Currency
According to a recent report published by Citigroup, Bitcoin could one day emerge as the global currency.
Twitter Buying Bitcoin?Raises $1.25 Billion In Convertible Notes
Is Twitter buying Bitcoin? Twitter announced that it has raised $1.25 billion in convertible notes. Giving some the impression...
Bitcoin Rallies Back Towards $50,000 As Bond Sell-Off Cools Off
Bitcoin bounced back, almost hitting $50,000 after last week's turbulent trading, triggered by a sell-off in the US Treasurys...

Featured Crypto News

BlockFi Announces Record Payments For Clients In February
Crypto lending firm BlockFi posted another record-breaking month in February. The firm paid out over $35 million in interest...
Tezos Integrated Into Wolfram Blockchain Platform
Wolfram Blockchain Labs announced that its DLT will utilize the blockchain resources of TQ Tezos. Tezos blockchain is now...
Twitter Buying Bitcoin?Raises $1.25 Billion In Convertible Notes
Is Twitter buying Bitcoin? Twitter announced that it has raised $1.25 billion in convertible notes. Giving some the impression...
Bitcoin Rallies Back Towards $50,000 As Bond Sell-Off Cools Off
Bitcoin bounced back, almost hitting $50,000 after last week's turbulent trading, triggered by a sell-off in the US Treasurys...
Bitcoin Price Surges After MicroStrategy Increases BTC Holdings
The price of Bitcoin shot up 7% on Monday following MicroStrategy's announcement. That is purchased an additional $15 million...
Cardano To Update Mary Protocol On March 1
Cardano’s core development team announced that the Mary protocol update will go live on March 1. Input Output also...