CNBC host Jim Cramer has shared his current stance on cryptocurrencies in a recent interview, claiming that people should be free to invest in the nascent asset class as long as they do not perceive it as a safe investment.
“It’s not Coca-Cola, it’s not Apple,” the famous stock picker said.
Cramer claims that crypto should be only a small part of one’s portfolio. He personally doesn’t recommend allocating more than 5% to cryptocurrencies. Cramer also criticized the idea of borrowing money for investing in crypto.
As reported by U.Today, Cramer has repeatedly criticized meme cryptocurrency Dogecoin. In January, he suggested that the Bitcoin parody could be an unregistered security.
Cramer is convinced that cryptocurrencies could reach widespread adoption in the future. The famed stock picker continues to hold Ether after buying it because of his interest in no-fungible tokens.
Despite cryptocurrencies going mainstream in 2021, Cramer still believes that new fortunes could be made in cryptocurrencies.
Bitcoin and Ether are down 56.22% and 63.20%, respectively, from their record highs that were logged in early November.
Cramer was critical of Bitcoin in the past, but he changed his tune in 2020 and bought the largest cryptocurrency for the first time.