You’ve seen it on the news, on the internet, and some of your friends may have even invested in it. Especially cryptocurrencies Bitcoinare the newest way to buy and sell, even when it comes to real estate.
Jim Cramer, the popular “Mad Money” host who made his living talking about stocks on CNBC, is back in the news today after popped up in a recent interview, claiming that he recently paid off a mortgage with profits from half of his Bitcoin investments.
“Looks like I might be the only natural seller, but it was so great to pay off a mortgage,” Cramer said on CNBC’s Squawk on the Street.
He added,
“It was a kind of fake money paying for real money. I now own a house – lock, stock and barrel – because I bought this currency. I think I won!”
That said, it is interesting to gloss over his aforementioned comments: “Fake money paying for real money.”
A few days ago, the popular television personality had tweeted:
pay me in bitcoin!!
— Jim Cramer (@jimcramer) April 12, 2021
Putting two and two together, it looks like Cramer asked to be paid in “fake money.”
Cramer has long been one vocal supporter by Bitcoin. He has touted it on air and said it would be “almost irresponsible” not to include it in a portfolio. That’s what the market expert said purchased a significant amount of Bitcoin when the price was around $12,000. Although Cramer did not elaborate on exactly how much he made from his sales, he said in other interviews that he had invested $500,000 in Bitcoin after becoming frustrated with gold.
Over the past two years, we have seen the cryptocurrency market at its peak most active, with the sector attracting attention from all over the world. In fact, 2020 has paved the way for Bitcoin, with the world’s largest cryptocurrency proving its worth in times of crises in the eyes of both retail and institutional investors.