Less than a month after paying off his mortgage with gains on a Bitcoin investment, CNBC’s Jim Cramer is using another crypto to buy a car.
Cramer on Wednesday said he had sold half of his Ethereum holdings to purchase an all-electric Hummer.
“I sold half my Ethereum yesterday … and I put some money down to own a Hummer,” Cramer said on Squawk on the Street.
Ethereum hit a record of $3,530 Tuesday. Cramer said he bought the crypto in March. The price that month hit a high of $1,905 and a low of $1,555.
The Hummer Cramer said he bought comes as both a pickup (available this fall) or an SUV (due early in 2023). The host did not specify which he bought, but both models start at $100,000.
The purchase follows Cramer’s sale of Bitcoin in mid-April. He said he paid off his mortgage using half of his Bitcoin holdings.
“From the chart, I may be the only natural seller, but it was so great to pay off a mortgage,” Cramer said at the time. “It was like, kind of, phony money paying for real money. … I now own a house—lock, stock, and barrel—because I bought this currency. I think I won!”
Cramer has been a proponent of Bitcoin for quite some time. He has touted it on air, saying it would be “almost irresponsible” not to include it in a portfolio. He also has said he’d be open to being paid in Bitcoin instead of cash, and he previously revealed that he invested $500,000 into Bitcoin after becoming frustrated with gold.
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