Cramer Buys Bitcoin as Hedge Against US National Debt
Jim Cramer, the CNBC host and former hedge fund manager, recently announced he is investing in Bitcoin to hedge against the growing U.S. national debt, which stands at $37.8 trillion. He expressed concerns about the potential impact on future generations.
Cramer's Concerns and Bitcoin's Role
During a CNBC segment, Cramer stated, "I buy it a lot because I’m very worried. I think people want to own some as a hedge against the 37.8 trillion dollars. They want to own it for their kids."
When questioned about Bitcoin's resilience during a financial crisis, Cramer responded positively, calling it "just a nice hedge for what I’m afraid."
Cramer added, "I know we can grow our way out of this... My hope is we do that, but I’m just very worried about my kids."
Inverse Cramer Effect
Cramer is known for his frequent and animated stock predictions. Many traders have observed an "Inverse Cramer" effect, where the market moves in the opposite direction of Cramer's recommendations.
Current Bitcoin Price
As of press time, Bitcoin was trading at $118,227, a 1% decrease over the last 24 hours, according to CoinGecko data.
Key Takeaways
- Jim Cramer revealed his Bitcoin purchase as a hedge against America’s $37.8 trillion national debt.
- Cramer emphasizes Bitcoin as a hedge against economic uncertainty, expressing concerns for future generations.
Disclaimer: Investing in cryptocurrencies involves risks. Cryptocurrency investments are speculative and can be highly volatile; consult a financial advisor before making financial decisions.
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