Jim Cramer Increases Bitcoin Portfolio, Announces to Buy More
- The American television personality said that he bought Bitcoin for just under $18,000 to diversify his portfolio.
The host of Mad Money on CNBC and Co-founder of TheStreet.com, Jim Cramer announced that he made a well-timed Bitcoin investment last week to diversify his investment portfolio. Additionally, he expressed his desire to buy more in case of a dip in the crypto market.
Cramer mentioned his views about the recent developments in Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term during an interview with TheStreet. He did not disclose the exact amount of his Bitcoin holdings but outlined that he purchased BTC recently between a price range of $17,000 to $18,000.
The former hedge fund manager termed Bitcoin as a perfect tool for portfolio diversification. “As an investor, you want to diversify into all sorts of asset classes. For me, it’s not about having a massive position, but it’s certainly important to be diversified and Bitcoin is an asset. And I want to have a balance of assets,” Cramer added.
Cramer expects the price of BTC to come down again because of its volatile nature. While talking about the recent price Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term in the world’s largest cryptocurrency, Cramer said: “Bitcoin is off nicely from the top. I like to buy something that’s off nicely from the top."
Portfolio Diversification
The recent boom in crypto adoption indicates that Wall Street treats cryptocurrencies as an important asset for portfolio diversification. The World’s Top Hedge Fund Manager, Ray Dalio from Bridgewater Associates termed bitcoin as a good tool for portfolio diversification. Moreover, Dalio compared BTC with Gold as an asset class and said that both have similarities. Cramer’s recent stance on cryptocurrencies came as a surprise for the crypto community because the host of CNBC’s Mad Money criticized Bitcoin and other cryptocurrencies during the boom of 2017 and said that “Crypto assets are running out of steam”. Cramer shares a good relationship with Co-founder and Partner of Morgan Creek Digital Assets, Anthony 'Pomp' Pompliano. During a podcast in September with Pompliano, Cramer showed his desire to invest around 1% of his overall investment portfolio in Bitcoin.
The host of Mad Money on CNBC and Co-founder of TheStreet.com, Jim Cramer announced that he made a well-timed Bitcoin investment last week to diversify his investment portfolio. Additionally, he expressed his desire to buy more in case of a dip in the crypto market.
Cramer mentioned his views about the recent developments in Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term during an interview with TheStreet. He did not disclose the exact amount of his Bitcoin holdings but outlined that he purchased BTC recently between a price range of $17,000 to $18,000.
The former hedge fund manager termed Bitcoin as a perfect tool for portfolio diversification. “As an investor, you want to diversify into all sorts of asset classes. For me, it’s not about having a massive position, but it’s certainly important to be diversified and Bitcoin is an asset. And I want to have a balance of assets,” Cramer added.
Cramer expects the price of BTC to come down again because of its volatile nature. While talking about the recent price Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term in the world’s largest cryptocurrency, Cramer said: “Bitcoin is off nicely from the top. I like to buy something that’s off nicely from the top."
Portfolio Diversification
The recent boom in crypto adoption indicates that Wall Street treats cryptocurrencies as an important asset for portfolio diversification. The World’s Top Hedge Fund Manager, Ray Dalio from Bridgewater Associates termed bitcoin as a good tool for portfolio diversification. Moreover, Dalio compared BTC with Gold as an asset class and said that both have similarities. Cramer’s recent stance on cryptocurrencies came as a surprise for the crypto community because the host of CNBC’s Mad Money criticized Bitcoin and other cryptocurrencies during the boom of 2017 and said that “Crypto assets are running out of steam”. Cramer shares a good relationship with Co-founder and Partner of Morgan Creek Digital Assets, Anthony 'Pomp' Pompliano. During a podcast in September with Pompliano, Cramer showed his desire to invest around 1% of his overall investment portfolio in Bitcoin.