This week CNBC’s Jim Cramer sat down for a podcast interview with well-known crypto personality Anthony Pompliano (AKA “Pomp”). Cramer revealed that he owns “so much gold” — but he also said he plans to move 1% of his portfolio into bitcoin.
Here’s an excerpt where Jim explains his (somewhat strange) reasoning.
“I mean people talk about [how] crypto gets hacked or whatever, you know what’s really bad? It’s when your kids can’t find your gold. And that is, by the way, not unusual. So this is why I am fixated on needing to own crypto, because I fear a massive amount of inflation, and I don’t have [any]. Gold will do okay, the houses will do okay, those will keep me running in place. The idea of actually making money, well holy cow, I’ll take a shot at that with 1%.”
Like I said, Cramer’s reasoning around gold is a little strange here. But I get the basics of what he’s saying. It’s very important to hedge against inflation. And in my view, it is best to do that with both gold and bitcoin. So I (mostly) agree with Cramer here.
The bigger takeaway here is that Jim Cramer — one of the most influential investors on Earth — is out there saying he fears “a massive amount of inflation.” And he’s looking to bitcoin to hedge against it.
This is what we’ve been talking about for years, and now it’s finally reaching the mainstream. In fact, I think we’ll see this theme continue to grow as deficits get larger and more money is printed.
It’s an amazingly bullish fundamental scenario for both bitcoin and gold. Keep holding.