CNBC'S Mad Money host Jim Cramer said that he made a “ton of money” in Bitcoin (CRYPTO: BTC) thanks to popular Bitcoin proponent Anthony Pompliano. What Happened: In a recent podcast with Pompliano, Cramer said that he bought into the advice he received from Pompliano earlier and put half a million dollars in Bitcoin over the course of a few days. “I mentioned the money because it's never happened to me before. I've bought a lot of stocks in my life...it happened just as you said,” said Cramer, adding that it also happened “much faster” than he expected. The CNBC host did not get into exactly how profitable his investment turned out, but if he did indeed invest $500,000 in Bitcoin after his first podcast appearance with Pompliano, it would now be worth around $2.4 million. Cramer explained that Pompliano’s advice about Bitcoin really resonated with him because what he said was what he was searching for with gold all along. “But gold let me down,” said Cramer, who has now changed his stance on the asset for the first time since 1983. “Now I say five percent of gold, five percent of Bitcoin.” Why It Matters: Bitcoin’s price has been steadily increasing since December 2020, as more retail investors and institutions have bought into the narrative that the digital asset can serve as an “alternative store of value.” The market-leading cryptocurrency touched an all-time high of $61,500 earlier this month but has since consolidated around $56,000. Despite a recent dip in price, on-chain data seems to indicate that institutions are still buying, and market sentiment remained positive overall. See more from BenzingaClick here for options trades from BenzingaBitcoin Price Dips Under ,000 As Its Largest Holders Take ProfitsWhy NFT Token THETA Rallied 17,892% In One Year, Became Top 10 Crypto By Market Cap© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Original article
Jim Cramer Says He Made More Money On Bitcoin Than Gold, Stocks
CNBC'S Mad Money host Jim Cramer mentioned that he made a “ton of cash” in Bitcoin (CRYPTO: BTC) as a result of well-liked Bitcoin proponent Anthony Pompliano. What Happened: In a contemporary podcast with Pompliano, Cramer mentioned that he bought into the advice he received from Pompliano previous and put part one million {greenbacks} in Bitcoin over the path of a few days. “I discussed the cash as a result of it is by no means occurred to me earlier than. I've purchased lots of shares in my life...it occurred simply as you stated,” mentioned Cramer, together with that it moreover happened “a lot sooner” than he expected. The CNBC host did not get into exactly how profitable his investment grew to become out, but if he did for sure invest $500,000 in Bitcoin after his first podcast glance with Pompliano, it'll now be value spherical $2.4 million. Cramer outlined that Pompliano’s advice about Bitcoin in fact resonated with him because of what he mentioned was once what he was once in search of with gold all along. “But gold let me down,” mentioned Cramer, who has now changed his stance at the asset for the principle time since 1983. “Now I say 5 % of gold, 5 % of Bitcoin.” Why It Matters: Bitcoin’s worth has been ceaselessly emerging since December 2020, as further retail buyers and institutions have bought into the narrative that the virtual asset can serve as an “different retailer of worth.” The market-leading cryptocurrency touched an all-time over the top of $61,500 previous this month on the other hand has since consolidated spherical $56,000. Despite a contemporary dip in worth, on-chain wisdom seems to indicate that institutions are nevertheless purchasing for, and marketplace sentiment remained constructive general. See further from BenzingaClick on on proper right here for possible choices trades from BenzingaBitcoin Price Dips Under ,000 As Its Largest Holders Take ProfitsWhy NFT Token THETA Rallied 17,892% In One Year, Became Top 10 Crypto By Market Cap© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.