Famous former stockbroker Jim Cramer announced in a program of CNBC that he prefers cryptocurrencies over gold. The famous name has come to the fore with crypto money comments before. cryptocoin.com We are giving the details as…
Jim Cramer prefers cryptos over gold
The host of CNBC’s Mad Money, which has aired since 2005, has an episode where Jim Cramer quickly responds to callers’ stock questions. In the last episode that passed quickly, Cramer made a comment that made crypto investors happy. When asked about the Barrick Gold stock, Cramer said he would prefer cryptocurrencies to gold. Based in Ontario, Canada, Barrick Gold is a gold and copper mining company with 16 operating facilities in 13 countries. The company was established in 1983.
The question posed to Cramer was whether he should invest in Barrick Gold Corp. The comparison between gold and the largest cryptocurrency, BTC, has been around for a long time, as Bitcoin exhibits more stable price movements than other cryptocurrencies and has a certain total supply. While some experts continue to advocate gold as a hedge asset, others are moving to cryptos. Cramer also mentioned cryptocurrencies in the question asked about the Barrick Gold investment and used the following statements:
I’ve historically loved Barrick Gold. I’m not giving up on this feeling. The yield is around 2%. But gold has lost its character as a hedge, and we all have to accept that. I would say gold should be held as a 10% hedge asset. Now I just say 5 percent. I prefer crypto to gold.
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