Mad Money host Jim Cramer provided investment advice aimed at the latest $ 731.1 million Powerball jackpot winner. He recommends placing 5% of the jackpot in bitcoin along with various other investments, such as gold and real estate.
Jim Cramer Says Put 5% of Powerball Jackpot in Bitcoin
Someone last week won a Powerball jackpot worth about $ 731.1 million, which was one of the biggest lottery prizes in American history. The winning ticket was sold at Coney Market, a convenience store in Lonaconing, a city in Maryland. The store gets a $ 100,000 bonus for selling the ticket.
Jim Cramer, host of Mad Money on CNBC, gave advice to the lucky winner on Friday. The former hedge fund manager was also co-founder of the financial website Thestreet.com.
Cramer provided a list of investments he recommended for the jackpot winner. It consists of precious metals, real estate, art, bitcoin, municipal bonds and dividend-paying shares.
For the Powerball jackpot winner, Cramer said: ‘If you’re so rich, it’s not the taxpayer who’s worried. You have to worry about inflation, specifically hyperinflation, that’s the only thing that can really threaten the nine-digit fortune. ”
He continues: “What is value during times of hyperinflation?” Cramer reveals: “You may not know it, but it’s precious metals, real estate and great art.” The Mad Money host has long been a gold proponent. He advised: “As for gold, yes, 5% jackpot in gold.” However, he also warned: “Do not store the bully at home, put it in safes.” Cramer added:
If you won the lottery, go ahead, yes, I’m going to say, 5% in bitcoin.
Cramer further suggested without going into details: ‘Do not buy everything at once, crypto can be incredibly volatile. Do not buy at the weekend. But this is an important new store of value. ”
In addition to recommending investments, Cramer has also given general advice to Powerball jackpot winners, such as paying attention to scammers and collecting their profits as a lump sum rather than annuities. ‘Always take the lump sum. ‘You can put it into treasury bonds and the interest you will incur will make you more than if you took the annuity,’ ‘the Mad Money host said.
Cramer himself began investigating BTC himself due to concerns about massive inflation. In December, he revealed that he had bought bitcoin but sold the cryptocurrency earlier this month. He said to treat BTC like a stock: “Like I tell people … if you have a double, take out a lot … It’s just not a stock.”
What do you think of Jim Cramer’s bitcoin advice? Let us know in the comments below.
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