Jim Cramer, host of CNBC’s “Mad Money” and Investing Club, is a “believer” in cryptocurrencies, but only as a speculative investment that’s a small part of your portfolio — less than 5%.
“I can’t tell you not to own crypto; I own ethereum,” Cramer tells CNBC Make It.
Cramer initially bought it in order to bid on an NFT, or non-fungible token, at a charity event. “They wouldn’t let me do dollars,” he says. “I had to buy it in ethereum, so I researched it, and it’s got some qualities I like.”
Cramer argues that crypto’s long-term value “is its timeliness” as a decentralized, peer-to-peer currency that could be widely adopted over time. He recommends bitcoin and ethereum, which have the largest followings and “seem the most legitimate.”
Owning crypto can also be a good short-term bet that takes advantage of the momentum from swings in its price, especially since there are many enthusiastic investors in the space who are willing to “buy high,” he says.
However, there’s a catch: “You...
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