On the same day, the price of Bitcoin fell by 2%. CNBC market commentator Jim Cramer suggested that cryptocurrencies should have a place in every investor's portfolio.
Kramer's investment advice has become a meme because many people think it's usually a bad decision. Short-term exchange-traded funds (ETFs) that bet on his buying tips also failed.
November 26th edition CNBC mad moneyCramer supported holding cryptocurrencies as a hedge against the growing deficit as the US debt exceeds $36 trillion.
“I think Bitcoin, Ethereum, and maybe other cryptocurrencies are also worth having in your portfolio,” he said. “Maybe one day, if we can get the deficit under control, we might change our policy.”
Over the past 24 hours, Bitcoin (BTC) has fallen 2% to around $92,700, still cooling off after rising to a peak of $99,571 on November 23rd.
Some users were quick to ask him to only cover the negative points, in line with the concept of the Internet's “reverse claimer” effect, suggesting that his support would cause the opposite. There is.
Users flooded the comments section, believing that Cramer's support would do the opposite, asking him to focus only on the negatives about cryptocurrencies. Source: YouTube and X
“I've loved cryptocurrencies for a long time,” Kramer said on the show. “The main reason for that is because we know there's a huge investor base that wants to buy something that can protect them from the government's bankrupt budget.”
of mad money The host also admitted that he still owns cryptocurrencies because “concerns about the national debt will never go away.”
“I'm going to make another recommendation and call the top person,” Kramer said. “It’s strange that I’ve been promoting gold and cryptocurrencies for years, and yet there’s so much enthusiasm for both when they’re near all-time highs.”
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November 21st edition Regarding Mad Money, Cramer also told the caller that he should own winning Bitcoin, which at the time had climbed to around $98,000.
Kramer has had a love-hate relationship with cryptocurrencies. In the past, he has argued that cryptocurrencies have “no real value” and advised holders to sell them. Kramer later admitted he was wrong and talked about the profits from owning cryptocurrencies.
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