“I assume crypto ought to be a part of a person's varied portfolio. I can't tell you to not own crypto; I own crypto, I own Ethereum.”
According to Cramer, Bitcoin and Ethereum “are the foremost legitimate” cryptocurrencies on the market, however investors declare they're still extremely speculative assets that would still lose worth.
“It's okay to possess one thing speculative. [But] you want to admit that it's speculative therefore you don't place it within the Procter and Gamble category. It’s not Coke, it’s not Apple, however I recommend and settle for speculation.”
Cramer goes on to warn investors that they must ne'er borrow cash to buy crypto assets as they have a tendency to show a high degree of worth volatility.
“I would watch out to not borrow cash as many of us do to possess [BTC and ETH] as a result of these ar speculative… borrow for your house, borrow for your automobile, however don’t borrow for crypto. however i might ne'er discourage you from shopping for crypto attributable to all the fortunes that are created in it.”
Jim Cramer Warns of Risky Bitcoin and Ethereum
Jim Cramer has become one of the most recognizable voices in finance thanks to his show Mad Money on CNBC,
but he also made waves earlier this week when he declared that he was bullish on cryptocurrencies such as Bitcoin and Ethereum.
If you're brave enough, I recommend buying Ethereum and Bitcoin, he said during a segment on August 3rd.
I think they're terrific buys. In fact,
Cramer went so far as to say that blockchain technology—the backbone of Bitcoin—will soon be everywhere and will help reshape many industries across the globe.
Is investing in bitcoin risky?
In 2017, we saw bitcoin rise from $1,000 to almost $20,000 in value.
It was quite a ride for investors. And as CNBC's Jim Cramer said he's confident in both Bitcoin and Ethereum,
you might be wondering if it's still worth investing in cryptocurrency.
Is bitcoin a risky investment? We asked top finance experts to weigh in on whether or not investing in bitcoin is risky. Below are their responses.
Is the risk worth it?
Investing in Bitcoin or Ethereum is risky, with hundreds of millions—if not billions—of dollars locked up due to hacks.
It’s also uncertain, with prices soaring from $900 to $3,000 over last year.
But Jim Cramer believes that no matter what happens next, these cryptocurrencies are here to stay.
Anecdotally, people don’t want government money—they want Bitcoin and Ethereum, he said on CNBC. What do you think?
Why are we seeing bitcoin at an all-time high?
Bitcoin has hit an all-time high in terms of market capitalization.
The cybercurrency, which is often associated with illicit use because it can be easily converted into cash,
recently surpassed $72 billion. So why are investors so excited about bitcoin right now? Jim Cramer has his own idea.
How can you still make money with Bitcoin without buying the cryptocurrency itself?
It’s not easy, because cryptocurrency markets are very risky right now.
CNBC host Jim Cramer said he was confident in both Bitcoin and Ethereum, but it’s still difficult to make money.
As cryptocurrencies continue to fluctuate wildly, professional investors are mostly shying away from them.
And consumers like you can lose big if you put too much money into a crypto that eventually loses value.
In many ways, buying cryptocurrency is like gambling at a casino; you have no idea what will happen next.
Should you go all in on bitcoin right now?
Jim Cramer believes in bitcoin, but that doesn’t mean it’s a good idea to invest your entire nest egg into cryptocurrencies.
With so many digital coins on offer, from bitcoin to ethereum, it can be difficult to work out which are solid bets and which are likely duds. CNBC’s Jim Cramer says he has confidence in both bitcoin and ethereum because they seem to serve as more than mere currency.