Recently, Jim Cramer, host of CNBC’s Mad Money, said he could invest 1% of his fortune in bitcoin (BTC). A popular investor compared Bitcoin and gold and pointed out the importance of inflation protection.

During a podcast with Anthony Pompiliano, Kramer said he would “get 1%.”

Since Bitcoin’s rise in 2017, CNBC, Bloomberg and institutional analysts have sharply criticized digital assets. Most of them claimed that cryptocurrencies were Ponzi schemes, fraudulent or unstable, but that the story began to change in April 2019 when the digital asset returned from its low levels in the area below $ 4000.

Most investors see safe assets like gold as a hedge against inflation, but they do not invest in these assets and expect huge returns.

In a conversation with Pompliano, Kramer said that he is attracted to bitcoin for his obvious ability to rise in value, as well as act as a hedge against inflation. He said:

“I mean, people who talk about cryptocurrency hacking or whatever, do you know what’s wrong? This is when the kids can’t find your gold. By the way, this is not uncommon. This is why I’m so focused on the need to own cryptocurrencies: “Because I’m afraid of huge inflation and do not have [it]. The gold will be fine, the houses will be fine, and it will keep me in place. The idea is to really make money, holy cow, I will try to achieve that by 1%. ”

Kramer is not alone in considering opening a buying position in bitcoin. Billionaire investors like Paul Tudor Jones and even billions of dollars in public companies have started investing in Bitcoin.

On September 16, MicroStrategy CEO Michael Sailor announced that the company now has 38,250 BTC. Based on the current bitcoin price ($ 10,800), the share is $ 413.1 million. The sailor said:

“14. September 2020, MicroStrategy completed the acquisition of 16,796 bitcoins worth a total of $ 175 million. So far, we have purchased a total of 38,250 bitcoins for a total purchase price of $ 425 million, including commissions and fees. ”

Large companies and high-profile investors are increasingly investing in Bitcoin because it acts as a hedge against inflation and also has portability. Digital assets have also made huge profits over time, driven by the growing improvement in the infrastructure and ecosystem that surrounds Bitcoin.

Some investors claim that Bitcoin has all the properties of gold because it is portable and has a stable supply. In fact, Tyler Winklevoss, a billionaire investor and co-founder of the Gemini Stock Exchange, believes that Bitcoin performs better than gold than precious metal itself. Winklevoss said:

“As it turns out, Bitcoin is better than gold at being gold – not just gradually, but an order of magnitude or ten times better.”

Kramer says gold is dangerous, and he wants access to cryptocurrencies.
During the interview, Kramer expressed particular concern about the storage of gold. Gold is dangerous for children, he said, making Bitcoin even more attractive. Kramer said:

“[My children] will never understand gold. The reason they will never understand gold is because they think gold is dangerous. It’s dangerous because it can be stolen, it’s dangerous because they do not want to take it from the bank, it’s dangerous because they can forget where it is. “

Source: CoinTelegraph