TV host Jim Cramer said he bought “many” bitcoins when he valued $12,000 and used some of his investment profits to repay a home loan.
“I paid a loan with him,” the host of “Mad Money” at CNBC said Thursday, adding that promoting some of his wallet had helped him.
Bitcoin reached an all-time high of nearly $65,000 on Wednesday and dropped by 4% to around $60,600 on Friday. The value of virtual assets has increased to more than 105% so far this year.
“Now I have a space — lock, inventory and barrel — because I bought this coin. “
Cramer recently indicated that he was positive about the exchange of Coinbase crypto, calling it one of the many “cult assets” on the market.
In a podcast with cryptocurrency investor Anthony Pompliano last month, Cramer said he earned a ton of cash by making an investment in bitcoin and had provided him with over-gold gains, said he followed Pompliano’s recommendation and invested part of a million dollars in bitcoin in a matter of days.
The TV presenter and former hedge funder has said in the past that corporations are being negligent if they don’t add bitcoins to their balance sheets.
Read more: Bitcoin is a puzzle to store, and this has created an investment opportunity that, in theory, can pay big returns without risk to make a decision to investors until December.