These 2 Cryptocurrency Profit… –

Legendary stockbroker Jim Cramer shared that he bought farms and boats through two cryptocurrencies. It should be noted that he previously advised to stay away from cryptocurrencies.

Jim Cramer issues warnings for cryptocurrencies every year

CNBC’s Jim Cramer regularly makes statements against cryptocurrencies every year. He has previously advised to stay away from cryptocurrencies. In August, he warned investors to stay away from speculative markets like cryptocurrencies as they could struggle during the current Fed tightening cycle. But as an experienced investor, he said he knows how to win:

I bought a farm with my Bitcoin earnings, I bought a boat with Ethereum… You haven’t been doing this for 42 years and you’re losing money every year.

The legendary stockbroker adds that he no longer supports the claim that Bitcoin serves as a store of value. Cramer claims Fed Chairman Jerome Powell “will suffer until he stops gambling.” The well-known host of CNBC’s Mad Money provides frequent guidance and forecasts for the stock and crypto communities. Because his previous forecasts of a similar nature were consistently wrong, most investors reverse his advice.

Jim Cramer challenges investors

Cramer recently urged Twitter to bet against him when it comes to cryptocurrencies. Many investors mock Cramer on this issue, as it turns out to be the opposite of what he said. The statement “You haven’t been doing this for 42 years and you’re losing money every year” was for those who thought this. Cramer has previously stated that he is interested in cryptocurrencies. He made a big investment in Bitcoin in 2020, which traded at $12,000. When the sales proceeds reached $64,000 in 2021, Cramer explained in a tweet that he used his Bitcoin earnings to buy a farm and his Ethereum earnings to buy a boat.

Cryptocurrency adoption has not slowed down despite the pessimism of the legendary stockbroker

The market has been in stagnation especially since 2022. But more and more people are turning to cryptocurrencies as a form of payment. International fast food giant McDonald’s has started to accept Bitcoin (BTC) and Tether USDT as a form of payment in Lugano, Switzerland. In September 2021, El Salvador became the first country in the world to accept Bitcoin as legal tender. Since then, Bitcoin has been accepted at all 19 McDonald’s restaurants across the country.

cryptocoin.comAs you follow, a new Chainalysis report has revealed countries’ use of cryptocurrencies. According to the research, Turkey has the largest transaction volume in the Middle East and North Africa.

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