Jim Cramer, the famous host of Mad Money on CNBC, has published a long article in which he gives some advice on how to invest the money received from the anti-Covid stimulus check.
He first argues that people who are receiving government checks are probably not earning enough to have accumulated enough capital to have saved at least $10,000, which is the amount Cramer believes is necessary to be able to start buying stocks.
In this regard, he first advises using this money to pay off one’s debts, or to improve one’s health care by upgrading insurance.
Only after doing so does he recommend considering investments in stocks or bitcoin.
Speaking of bitcoin he says:
“Bitcoin? Look, I am not going to tell you whether you should buy a piece of a bitcoin. I am a believer. You can buy a sliver by going to Square (SQ). They’ll sell it to you. It’s one of the reasons why I like the stock of Square”.
Cramer bought BTC in December last year, when the price was $17,000. Today, just a few months later, they are already worth more than three times that.
But the most interesting thing is the explicit statement “I am a believer”, with which Cramer publicly reveals that he believes in the future of Bitcoin.
In fact, it was only in September 2020 that the famous presenter approached Bitcoin, as he was previously among its detractors.
He was convinced by Anthony Pompliano, one of the world’s most famous crypto influencers and a successful investor.
However, in the article addressed to those who will receive government checks, he says nothing else about Bitcoin.
Rather, he lists a long series of stocks in which this money could be invested. Yet it is not at all illogical to imagine that a significant part of this money will eventually be used to buy BTC.
In times of hardship, many people might be fascinated by the possibility, albeit hypothetical, of making a lot of money in a short time, so they might risk a little more, not by buying stocks, but by buying cryptocurrencies. This already happened last year, so it is likely to happen again.