Jim Cramer sold Bitcoin to pay his mortgage
Jim Cramer, the Mad Money host who has made a living talking about stocks on CNBC, used another investment to pay for his house.
On Thursday, Cramer said he paid off his mortgage the day prior by selling half of his investment in Bitcoin. “From the chart, I may be the only natural seller, but it was so great to pay off a mortgage,” Cramer said on CNBC’s Squawk on the Street.
“It was like, kind of, phony money paying for real money,” Cramer continued. “I now own a house—lock, stock, and barrel—because I bought this currency. I think I won!”
Cramer has been a vocal booster of Bitcoin for a while now. He has touted it on air, saying it would be “almost irresponsible” not to include it in a portfolio.
Last month he said he had made more on Bitcoin than he has on gold.
Bitcoin surged yesterday in the run-up to the direct listing of Coinbase on the Nasdaq marketplace. It dropped precipitously once trading in the cryptocurrency exchange began, however, and, by late morning Thursday, was $2,000 off its highs.
Cramer didn’t go into exactly how much he had made off his sale, but in other interviews, he has said he invested $500,000 in Bitcoin, after becoming frustrated with gold. That could put his profits from yesterday’s sale at over $1 million.
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