Jim Cramer
Scott Mlyn | CNBC
Jim Cramer, CNBC, said Thursday he recently paid off a mortgage with the profits from his investment in bitcoin.
Cramer said he bought “a lot of bitcoin” when the largest cryptocurrency in the world cost about $ 12,000. He said he has now sold about half of his position.
“I paid off a mortgage on it,” Cramer told Squawk on the Street.
The price of bitcoin hit a record high of $ 64,000 per coin on Wednesday. On Thursday, bitcoin traded around $ 63,000. The price has risen by 115% so far.
“From the chart, I may be the only natural seller, but it was so great to pay off a mortgage. It was like rogue money paying for real money,” Cramer said.
“I now have a home – lock, stock and barrel – because I bought this currency,” he added.
In February, Cramer discussed on CNBC his motivation for owning bitcoin and described the cryptocurrency as an alternative to a cash position, where you make absolutely nothing.
The world’s largest cryptocurrency by market value has advanced about 30% since Cramer’s remarks on 9 February.
“As a way to have a pastiche of things you have to use your cash with, I’m all for it. I think it’s almost irresponsible not to include bitcoin in a portfolio, the host” Mad Money “said in Said February.
On Thursday, Cramer apparently suggested that he follow investment advice he often advocates for viewers: to trim positions to make a profit after seeing significant gains. “I sold half completely,” Cramer said Thursday about his bitcoin holdings.
It is known that Cramer said that investors did not earn money in a share before a share was sold – until then the profits are only on paper.