Following MicroStrategy’s and Tesla’s recent heavy committal of money -$3.2B and $1.5B, respectively – towards the dominant Bitcoin (BTC) crypto, CNBC’s Jim Cramer, famously known as the host of “Mad Money,” went on to say that all firms must bat an eye on BTC at the very least. He then added that it feels almost irresponsible nowadays for firms to not follow suit to some of the world’s biggest corporation’s recent move to invest substantially in BTC. Notably, he shared these views on the network’s recent Squawk Box show earlier today.
Cramer states that every corporate treasurer today should go out of their way and contact their board directors to convince them to commit cash towards BTC. According to him, it does not matter whether they start small; doing so would be a very enticing and exciting option to hedge against the current environment. The CNBC personality then adds that cryptos are quickly becoming a better alternative to actually having cash, deeming it an excellent hedge against the traditional fiat currency. It is also worth noting that he, himself, confirmed that he had owned BTC for quite some time now.
Although Cramer had some great words for the dominant crypto, he reaffirmed that he still views himself as more of a conventional type of guy when it comes to hedge options. While he still prefers purchasing gold and profitable stocks, Cramer also firmly believes that BTC investment should at least be within all companies’ consideration nowadays.