The host of the program" Mad Money " on CNBC, Jim Kramer, captures the profit from his last year's investment in bitcoin.
"I decided to become a cheater. I bought a lot of bitcoin for $12,000 – " he announced on the air. "I know people will be mad at me, but I just paid them for the mortgage."
The host did not specify exactly how many bitcoins he sold and how much he earned on this, only noting that it was half of his assets in the cryptocurrency. Last month, he said he had invested about $500,000. Over time, his position has grown to approximately $2.4 million. He decided to buy it after talking with the co-founder of Morgan Creek Digital, Anthony Pompliano, last September, and even admitted that he could invest up to 1% of his fortune, the size of which, according to estimates, is $ 100-150 million.
Bitcoin rose to new highs this week just below $65,000 and has since pulled back to $61,000. Kramer said that the chart of the cryptocurrency naturally pushed him to the decision to sell. The main conclusion for the former Goldman Sachs broker from this experience: "fake money" allowed him to pay for what ordinary people pay for "real".
"I now have a house, completely and completely, because I bought this currency. I think I won, " he added.
Kramer talked about his investments in bitcoin in December 2020, talking about the importance of diversifying the portfolio and increasing his own position at a rate of about $17,000. After Tesla's $1.5 billion investment, the host said that it is now "almost irresponsible" for companies not to include bitcoin in their reserves. He, however, warns against large investments and believes that the cryptocurrency should be "part of the mosaic".
During the last broadcast, Kramer also confirmed that he still believes the $600 valuation of Coinbase shares is correct. "It's all about rarity. We do not have any other way in which open-ended investment funds could enter the cryptocurrency market, "he said, adding that by buying Coinbase shares, market participants are betting not only on the future of cryptocurrencies, but also on"honest managers".