Mad Money presenter Jim Kramer provided some investment advice aimed at the latest $ 731.1 million Powerball jackpot. He recommends placing 5% of the jackpot in bitcoin along with several other investments, such as gold and real estate.
Jim Cramer says he puts 5% of the Powerball jackpot into bitcoin
Someone won a Powerball jackpot worth about $ 731.1 million last week, one of the biggest lottery prizes in US history. The winning ticket was sold at Coney Market, a convenience store in Lonaconing, Maryland. The store will receive a $ 100,000 bonus on ticket sales.
Jim Cramer, the host of CN Money’s Mad Money, offered some tips to the lucky one on Friday. The former hedge fund manager is also a co-founder of the financial website Thestreet.com.
Kramer provided a list of investments he recommended for the jackpot winner. It consists of precious metals, real estate, art, bitcoin, municipal bonds and shares that pay dividends.
Regarding the winner of the Powerball jackpot, Kramer said: “When you are super rich this way, your main concern is not tax. You have to worry about inflation, especially hyperinflation, that’s the only thing that can really threaten the nine-figure state. “
He continued, “So what’s the point of hyperinflation?” Kramer revealed, “You may not know this, but these are precious metals, real estate and great art.” The Mad Money presenter has long been a defender of gold. He advised, “As for gold, yes, a 5% jackpot in bars.” But he also warned, “Don’t keep the bars at home, put them in safes.” Kramer added.
If you won the lottery, go on, yes, I’ll say 5% in bitcoin.
Kramer further suggested, without going into details: “Don’t buy everything at once, crypto can be incredibly changeable. Don’t buy on the weekends. But this is an important new stock of value. “
In addition to investment recommendations, Cramer also provided some general advice for Powerball jackpot winners, such as beware of scammers and collect winnings as a lump sum rather than an annuity. “Always take the lump sum. You can stick it in treasury bonds and the interest you will accrue will do more to you than if you took the annuity, ”said the host of Mad Money.
Kramer himself began looking for investment in BTC due to fears of massive inflation. In December, he revealed that he bought some bitcoin, but sold the cryptocurrency earlier this month. He said he treated BTC as a stock: “As I tell people … if you have a double, take a lot … It’s just no different from stocks.”
What do you think of Jim Cramer’s advice on bitcoin? Let us know in the comments section below.
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