Jim Cramer, the host of CNBC’s Mad Money and former hedge fund manager recently revealed that he is currently holding Ethereum.
He went on to say “Ethereum has enormous potential” in regards to its future price increase or decrease based on his current investment decision which shows how trustworthy this digital currency can really be!
Cramer’s advice for investors: invest in cryptocurrency. He said that they should allocate 5% of their portfolios to crypto-assets and capitalize on the growing market trend, which he expects will continue this year as well.
The famous investor claimed there are plenty of opportunities where you can make money trading or investing with cryptocurrencies like Bitcoin (BTC), Ethereum(ETH), Ripple XRP, etc.
However, before putting your hard-earned cash into virtual currencies it would be wise to really consider what type of risk-taking attitude do I have towards these things? Do my kids know about them too so we don’t accidentally spend bitcoins around them?
The recent statements from James Cramer demonstrate how fast Bitcoin can move. He sold all his Bitcoins just two months ago but now we’re hearing that he believes in cryptocurrency again!
Looking at the useability of Ethereum, this famous American television personality added that people can buy things with ETH like NFTs.
But, Ethereum isn’t the only thing Cramer expressed his views on. Concerning the giant exchange Coinbase, he said, “I think Coinbase is inexpensive. I don’t really care for management because I think they let out a lot of stock when they started. I was against that. They should’ve been buyers, not sellers. I think the listing went very, very poorly. I think the company is the natural repository of crypto.”
Cryptocurrency Assets – How Popular?
The recent trend in the cryptocurrency space has been a huge shift towards more centralized digital currencies. From January to July this year, Bitcoin and Ethereum attracted over 150% growth while other coins saw decreases during that same period of time!
Not only have investors flocked to these assets due to their stability but also because they offer better privacy features than others on p2p networks like Counterparty or Mastercoin which could make them attractive for future applications such as smart contracts.
Speaking on this trend, the Founder and CEO of TokenMetrics, Ian Balina, said, “Crypto has officially become mainstream, primarily driven by a mainstream interest in crypto memes like Dogecoin and non-fungible tokens (NFTs). Robinhood recently reported that 50% of its transaction-based revenue in the second quarter was crypto, 62% of that being Dogecoin. According to Google Trends, NFTs have become more popular than DeFi, showing mainstream interest in digitally scarce collectibles.”
Balina adds, “Adding on mainstream banks and financial services companies like PayPal, Venmo, Visa and Goldman Sachs launching crypto products, it is safe to say crypto has broken into the zeitgeist. The only thing remaining to take crypto even further is regulatory clarity from the SEC and CFTC,”