CNBC’s Jim Cramer has praised bitcoin’s value, but emphasized that diversifying one’s portfolio is key. The cryptocurrency recently crossed the $100,000 threshold, reaching new heights as a pro-crypto president prepares to take office. Cramer, who has been a long-time supporter of bitcoin, said it’s an alternative to gold and can be used as a hedge against government spending.
Cramer pointed out that several stocks, including Palantir, Tesla, Costco, and Nvidia, have also seen huge gains this year. He reiterated his mantra that investors should own both stocks and crypto to avoid being caught off guard by market fluctuations. The CNBC Investing Club Charitable Trust holds shares of Nvidia and Costco, but Cramer advises against putting all eggs in one basket.
Cramer’s comments come ahead of the presidency of Donald Trump, who has made big promises to the crypto industry. Trump plans to nominate Paul Atkins as head of the Securities and Exchange Commission, which could lead to more relaxed regulatory rules for crypto.
Source: https://www.cnbc.com/2024/12/05/as-bitcoin-surges-jim-cramer-says-not-to-forget-about-stocks.html