CNBC’s finance program host Jim Cramer thinks Bitcoin is a prudent investment asset. Two years ago, Cramer, former hedge fund manager and current host of CNBC’s Mad Money; He accepted Bitcoin as “an illegal currency” and declared that “the wind is reversing Bitcoin”. Although Cramer was quite critical of Bitcoin at the time, he finally spoke moderately on BTC in a statement he made on Anthony Pompliano’s podcast.
“When I look at inflation; it says buy gold, buy masterpieces and houses …
In this context, what we didn’t have was cryptocurrencies. I think you should have it, but I’ll call it gold or cryptocurrency because I have a lot of gold, but you have to own one or the other and I like cryptocurrencies right now.
Cramer explains that his change of mind is due to the government’s monetary policies that include trillions of dollars in financial incentives to combat the impact of the Covid-19 outbreak.
“I think we had to do this to avoid depression, so I’m glad we did. But I see the dollar falling, and most importantly, I know that nobody in this country wants to raise taxes, and even if we raised taxes, we still can’t afford it. We do not cut social security. We do not cut health insurance. We are on a collision course that makes me feel great about the gold I have. However, I think it makes perfect sense to add crypto money to the menu. “