Skip to main content

Mad Money’s Jim Cramer Moves From Bitcoin to Ethereum — Says ‘It’s More of a Currency’

Mad Money's Jim Cramer Moves From Bitcoin to Ethereum, Says 'It's More of a Currency'

The host of the “Mad Money” show, Jim Cramer, has bought ether after dumping almost all of his bitcoin. “I like ethereum because people actually use it much more to be able to buy things,” he said, emphasizing that “It’s more of a currency.”

Jim Cramer Prefers Ethereum to Bitcoin

Jim Cramer was asked about his updated view on bitcoin Monday on CNBC after he sold almost all of his BTC last week. A former hedge fund manager, Cramer co-founded Thestreet.com, a financial news and literacy website.

The Mad Money host said last week that he would buy bitcoin again if its price falls to the $10K level. However, the cryptocurrency did not fall much further than the $30K level Cramer appeared to have sold at before bouncing back. At the time of writing, the price of bitcoin stands at $34,370 based on data from Bitcoin.com Markets.

“I went back into ethereum” because bitcoin held at the $30,000 level, Cramer said, elaborating:

I like ethereum because people actually use it much more to be able to buy things. I’m going to continue to buy ethereum. I just think it’s got a little more game because when you go buy an NFT, anything like that, everybody wants ethereum. It’s more of a currency.

Last week, Cramer revealed that he sold almost all of his bitcoin because he was worried about China cracking down on cryptocurrency and bitcoin mining as well as BTC’s role in ransomware attacks.

The Mad Money host was previously bullish about bitcoin, advising people to put 5% of their portfolios in the cryptocurrency because he said gold let him down. He originally went into BTC in fear of massive inflation.

What do you think about Jim Cramer moving from BTC to ETH? Let us know in the comments section below.



from Bitcoin News https://ift.tt/3w0gzyN
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m
10 comments
Read more

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli
Post a Comment
Read more