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Jim Cramer, a well-known American financial and CNBC column Mad Money host, said that in order to cope with inflation, he needs to buy Bitcoin as an inheritance for his children.
In a podcast interview released this week by Morgan Creek co-founder Anthony Pompliano, Cramer asked many questions about cryptocurrencies such as Bitcoin. Cramer said he has been paying close attention to this area.
Cramer claims to be a supporter of gold, but he is still worried about how to hedge against inflation and leave the right assets to his children. He explained that our “Inflation Manual” only has “gold, art, and luxury homes.” He emphasized, “There is no cryptocurrency in our options. I think we must have it.”
Pompliano stated that it is important to distinguish between Bitcoin and cryptocurrencies. “When you talk about it with your kids, you have to make sure that it is not only a general cryptocurrency, because Bitcoin is especially effective as a hedge against inflation.”
But Cramer said that when his children inherited the inheritance, they would not be satisfied with gold or cryptocurrencies.
He mentioned, “I only need things that my children can understand. They will never understand gold. They think gold is dangerous, it may be stolen, and they don’t want to take it out of the bank.” Cramer is also worried about cryptocurrencies. Security, such as hacker attacks.
Cramer also admitted that when people asked him about Bitcoin in the past, he told them that he did not trade coffee, cotton, and Bitcoin.
But now he has changed. He mentioned, “Until I saw the Fed’s three trillion dollar package, our country did not have three trillion dollars. I know we don’t have money. This is one of the reasons why I like gold so much. “But he agrees with Pompliano’s view that Bitcoin is better than gold.
In the past period of time, due to the quantitative easing policies of central banks and the government’s economic stimulus measures, many institutions have transferred assets to Bitcoin. For example, Microstrategy, which is listed on Nasdaq, recently purchased a total of US$425 million. Bitcoin to hedge against inflation.
Cramer said, “I was forced to own cryptocurrency because I was worried about massive inflation.”
Author Xiu Mu