Jim Cramer Bought $500,000 Worth Of Bitcoin At $12k In September 2020

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Last Updated on 28 March 2021 by CryptoTips.eu

Jeroen Kok

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Jim Cramer, the famous host of CNBC’s Mad Money show, used to have his reservations about Bitcoin. Even though his website The Street features a weekly cryptocoin segment, Cramer himself used to prefer real estate, commodities, stocks and gold.

All that changed last year apparently, as he admitted during an interview with Bitcoin evangelist Anthony Pompliano this week that back in September he invested $500,000 in Bitcoin, at that time trading at $12k.

Advertentie.

$2.3 million

That’s why he wanted to thank Anthony Pompliano, who kind of inspired him to invest in BTC, after a previous invitation to his podcast in September 2020. Cramer said:

I listened to you, and it doesn’t matter how old you are, it’s about admitting that someone knows more about this stuff than you do.

Indeed, even admitting that Jim Cramer invested in the highest of the time (around $ 12,000 per Bitcoin), with Bitcoin currently trading at around $56,000, the host’s initial investment must now have a value of at least $2.3 million.

The Mad Money host explained:

It was at $12,000, and I started thinking I gotta get in before it gets to $50k, and I went home and told my wife.

YouTube video

With all this, it is now easier to understand that the man also readily admits that he has now spread his inflation-guarded position in a perfect balance between gold and Bitcoin. Whereas before he would allocate 10% of his portfolio to gold, Jim Cramer has now grown accustomed to spreading it to 5% gold and 5% bitcoin.

Even as Fed Chair Powell starts to compare Bitcoin to gold, the king of cryptos is now a very good alternative for protecting your wealth against the inflation of fiat currencies. It is this tip that Cramer is glad to have understood. You can be sure that if Bitcoin breaks another record in the next few months, Cramer will talk about it on his CNBC show.

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