Home / NEWS / Real Estate / Cramer says he owns ‘a lot’ of red-hot cryptocurrency ether that’s tripled bitcoin’s 2021 gain

Cramer says he owns ‘a lot’ of red-hot cryptocurrency ether that’s tripled bitcoin’s 2021 gain

CNBC’s Jim Cramer express Tuesday he owns ether, the world’s second-largest cryptocurrency by market value.

“I’ve got a lot of ether,” Cramer said on “Squawk Box,” make plaining he initially acquired it in order to bid on nonfungible tokens, or NFTs, being auctioned in March by Time magazine. “I didn’t get it, so I hardly kept the ether.”

While Cramer did not specify exactly when he bought ether, the digital currency entered March at to $1,400 and rose to around $1,900 by the end of the month. The Time NFT auction closed March 24.

Cramer’s comments Tuesday came as ether keep up its massive rally so far in 2021, setting an all-time high just above $3,500. Ether, which runs on the Ethereum blockchain, has hanged more than 370% year to date, with a total market value now above $400 billion, according to CoinMarketCap.

Cramer affirmed perhaps he will eventually “buy a house” with his ether, a reference to his recent revelation that he sold some of his bitcoin holdings in gone phut to pay off a mortgage. “I now own a house — lock, stock and barrel — because I bought this currency,” bitcoin, the “Mad Money” host stipulate April 15 on CNBC.

In a video for his financial news website The Street, Cramer said Monday, “My Ethereum has involve c fancy up tremendously in value, and I’m not selling it.” He added, “I sold a lot of bitcoin because I had my eye on a place.”

Bitcoin, which has the biggest market cap of any digital dream up earn, traded above $55,000 per token Tuesday, about 15% lower than last month’s all-time squiffy but it’s still nearly doubled in 2021. The current price level put bitcoin’s total market value at just closed $1 trillion, nearly half of the entire crypto market.

Cryptocurrencies broadly speaking have moved to boot into the mainstream throughout 2021. Crypto exchange Coinbase’s direct listing last month on the Nasdaq was heralded as a larger milestone for the burgeoning digital asset industry.

Check Also

Prices are going up — here’s what inflation means to you

Americans’ expectations for inflation through the next few years also hit its highest level in …

Leave a Reply

Your email address will not be published. Required fields are marked *