{"id":13781,"date":"2021-10-31T03:54:16","date_gmt":"2021-10-31T03:54:16","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/mad-moneys-jim-cramer-invests-in-crypto-because-there-could-be-millions-of-greater-fools-out-there\/"},"modified":"2021-10-31T03:54:16","modified_gmt":"2021-10-31T03:54:16","slug":"mad-moneys-jim-cramer-invests-in-crypto-because-there-could-be-millions-of-greater-fools-out-there","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/mad-moneys-jim-cramer-invests-in-crypto-because-there-could-be-millions-of-greater-fools-out-there\/","title":{"rendered":"Mad Money\u2019s Jim Cramer Invests in Crypto Because \u2018There Could Be Millions of Greater Fools Out There\u2019"},"content":{"rendered":"

The host of Mad Money, Jim Cramer, has some advice for crypto investors. \u201cAs long as you recognize the very real possibility that the whole investment case for crypto rests on the greater fool theory, you\u2019ve got my blessing to speculate on it,\u201d he said. Cramer added that he is holding ether because he believes \u201cthere could be millions of greater fools out there.\u201d<\/strong><\/p>\n

Jim Cramer\u2019s Crypto Investing Advice<\/h2>\n

The host of the Mad Money show on CNBC, Jim Cramer, talked about crypto investing Thursday. The former hedge fund manager who co-founded Thestreet.com, a financial news and literacy website, said:<\/p>\n

As long as you recognize the very real possibility that the whole investment case for crypto rests on the greater fool theory, you\u2019ve got my blessing to speculate on it.<\/p>\n

The greater fool theory states that the price of an asset is determined by whether you can sell it for a higher price at a later point in time. The theory refers to the idea that you can make money purchasing an asset because there is someone out there who eventually is willing to buy it from you at a higher price.<\/p>\n

Cramer added, \u201cI know a lot of people say ridiculous things about crypto, and I\u2019ve caught a lot of flack for acknowledging that.\u201d However, he emphasized:<\/p>\n

At the end of the day, I\u2019ve said repeatedly that you can use bitcoin or ethereum as a hedge against inflation, up to 5% of your savings, as a replacement for gold.<\/p>\n

In August, the Mad Money host recommended <\/a>putting up to 5% of portfolios in cryptocurrencies, stating that he is a believer in crypto. He said in March that gold let him down<\/a>.<\/p>\n

Cramer further shared: \u201cI didn\u2019t buy bitcoin or ethereum as inflation insurance. In all honesty, I was gambling. I was simply gambling on crowd psychology, though, and I have no idea whatsoever why these things went up, except that there are a lot of overenthusiastic people who want to buy high and sell higher.\u201d He elaborated:<\/p>\n

I\u2019m holding onto my ethereum because I believe there could be millions of greater fools out there. I think that\u2019s a decent bet.<\/p>\n

He continued: \u201cI don\u2019t have any particular attachment to ethereum and eventually I\u2019ll ring the register on the rest of my position when I think it\u2019s done going higher.\u201d<\/p>\n

The price of ether hit an all-time high<\/a> on Friday. At the time of writing, ETH<\/a> stands at $4,274. It was down 3.5% in the past 24 hours but up 7% in the past seven days and almost 50% in the last 30 days.<\/p>\n

In June, Cramer revealed that he sold almost all<\/a> of his bitcoin after the Chinese government reiterated its crypto crackdown. In the same month, he said he put money in<\/a> ETH<\/a>, noting: \u201cI like ethereum because people actually use it much more to be able to buy things.\u201d In September, the Mad Money host begged crypto investors to take profit<\/a> if they had any crypto gains due to concerns over Evergrande and Tether.<\/p>\n

What do you think about Jim Cramer\u2019s comments? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nMarkets and Prices, gold, greater fool theory, Jim Cramer, jim cramer bitcoin, jim cramer crypto, jim cramer cryptocurrency, jim cramer ether, jim cramer ethereum, mad money, speculate crypto<\/p>\n","protected":false},"excerpt":{"rendered":"

The host of Mad Money, Jim Cramer, has some advice for crypto investors. \u201cAs long as you recognize the very real possibility that the whole investment case for crypto rests on the greater fool theory, you\u2019ve got my blessing to speculate on it,\u201d he said. Cramer added that he is holding ether because he believes…<\/p>\n","protected":false},"author":0,"featured_media":13782,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-13781","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/13781"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=13781"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/13781\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/13782"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=13781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=13781"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=13781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}