286 Interactions, 6 today
A few weeks ago, Jim Cramer, famous television personality and host of Mad Money on CNBC, suggested a theory that forecast a new kind of economic “boom” in the second half of this year.
The author and co-founder of The Street is making headlines again today after speaking about Coinbase’s forthcoming direct listing plans. Cramer believes that depending on the day [of the listing], it may be a decent opportunity. He said,
“I find direct listings fascinating because they can really produce some bargains for the buyers. Stay close to that one. It may be a good one.”
Curiously, he also tweeted on the subject, commenting,
“Working on a Coinbase piece. I am a big believer in crypto and I liked what I heard about Coinbase but there is a price not worth paying so please let’s be careful and not ignore that there is a limit to what will work here.”
It’s also worth noting that, in the aforementioned episode, the TV personality was able to draw parallels with gold. When asked whether investors would “drop gold and buy Bitcoin,” Cramer said that although he has advised people to allocate 10% in gold “since 1983,” he now believes that “5% in gold, 5% in Bitcoin” will be optimal. In reality, he went on to express his dissatisfaction with gold, saying,
“I have for years said that you should have gold… but gold let me down.”
Cramer also appeared on a recent edition of CNBC’s Squawk Box, an episode during which he was questioned about his desire to take compensation in Bitcoin. He was quick to respond,
“Yes absolutely. I think it is a store hold of value. I think this is a $2 trillion market cap maybe going to $3 trillion.”
“But purely as Bitcoin? Without any conversion to FIAT? Absolutely. As a matter of fact, I may demand it.”
Cramer also acknowledged MicroStrategy’s recent announcement of paying its board of directors in Bitcoin. On the subject of Coinbase, he said,
“Well, it just says that you gotta buy Coinbase. This has become common knowledge that there are many companies that are going to switch. MicroStrategy has always been the leader so I think others are going to follow.”
The TV personality also went on to double down on his take by tweeting,
pay me in bitcoin!!
— Jim Cramer (@jimcramer) April 12, 2021
Cramer’s thoughts on the subject revealed that his views on the patterns in Bitcoin’s use for compensation and accumulation by businesses are both good for both Bitcoin and Coinbase.
Though Cramer has previously described Bitcoin as “a little inflated,” he has also said that “there are plenty of people who say it could go to $100,000.” Galaxy Digital founder Michael Novogratz is one of those crypto-investors who believes Bitcoin will reach those thresholds by the end of the year.