CNBC host Jim Cramer revealed that he earned “a ton of money” from Bitcoin (BTC), but gold “disappointed him”.
In an episode of the Pomp Podcast released on March 22, Cramer thanked host Anthony Pompliano for inspiring him to invest $ 500,000 in BTC.
Cramer after Bitcoin purchase: “Thank you”
“Here’s what’s going on: you made me a ton of money,” he started.
Cramer is well known as a mainstream media financial analyst, and is also familiar to Bitcoiners after a previous appearance on the Pomp Podcast in September 2020. His latest performance, however, puts him in pole position among CNBC presenters when it’s about being optimistic about Bitcoin.
Moving on, he said that, unlike his experience with buying gold and stocks, Bitcoin actually delivered.
“It happened exactly as you said,” he said to Pompliano.
“It also happened much faster than you said, but I am very grateful – and do you know who else is grateful? My children.”
Turning to gold, Cramer updated the council that he claimed to have defended for almost 30 years. Instead of allocating 10% of his portfolio to the precious metal, he revealed for the first time that it should now be 5% gold and 5% Bitcoin.
“When I was not educated, but taught by Pomp, I said: ‘What am I doing to not protect myself in what I have told people can be hyperinflation?'”, He recalled.
Although he did not say exactly how much money he made from his initial investment of about $ 500,000, the moment suggests that his stock is now worth about $ 2.4 million.
Earlier this week, even Fed Chairman Jerome Powell described Bitcoin as a “gold substitute”, while saying he did not challenge the US dollar.
Stronger hands win
Cramer is still a small volume hodler compared to many Bitcoin investors who have come in with much lower prices. As reported by Cointelegraph, however, these whales have become increasingly weak in recent times, selling at all major price increases this year.
The results continue to be seen in the form of outbreaks and prolonged consolidations for BTC / USD, a pattern that has already generated familiar accusations of volatility and unreliability on the part of opponents.
Supporters, however, cite the network’s data as evidence that the positive side is not over yet, with popular estimates for the average price in 2021 reaching $ 288,000.
At the very least, that would make Cramer’s treasure worth about $ 12 million.