During a recent episode of "Mad Money," CNBC host Jim Cramer decided to set the record straight about his crypto views, arguing that crypto is a "plausible story."
He believes that Bitcoin, Ethereum and even some other cryptocurrencies deserve to be part of investor portfolios.
Cramer argues that there is no proof that crypto can potentially protect you from anything. "At least, not yet," he added.
The financial commentator says that legislators lack the political will to balance the budget.
The CNBC host said that he owns crypto since he believes that national debt worries are not going to go away.
Cramer has also joked about potentially calling the top by recommending crypto.
Alex DovbnyaBitcoin is currently trading at $93,406 after experiencing a substantial correction, according to CoinGecko data.
He quipped that he tends to "take heat" from the investment crowd despite recommending gold and Bitcoin for years. Both assets are currently trading near their record highs.
As reported by U.Today, Cramer warmed up to crypto back in 2020. The CNBC host was convinced to buy the leading cryptocurrency by Bitcoin evangelist Anthony Pompliano.
Since then, Cramer has been sending mixed signals about his crypto stance with occasional bearish takes. Last year, he clarified that he was not against crypto in general.
"Understand I am not against crypto and have done quite well with it. I am against BOGUS crypto and outfits that stole your money and wouldn't let you have it back," Cramer said last year.
Arman Shirinyan
Dan Burgin
Vladislav Sopov