Mad Moneu host Jim Cramer has advised a lottery winner to invest 5% of his winnings in bitcoin.
That’s the advice he gave during his program with a Bitcoin System winner from Maryland who won the $7Z1 million Powerball jackpot.
„You know what, if you win the lottery, invest 5 percent in bitcoins,“ said Kramer, who himself owns some of the coins.
However, he advised buying bitcoins in batches and doing it mostly on weekends.
„Cryptocurrency can be incredibly volatile,“ he said on a day when the price of bitcoin plunged to $29,000, showing a roughly Z0% pullback from an all-time high of $42,000 reached in early January.
Kramer described the leading cryptocurrency as „an important new savings vehicle“:
„If you’re already rich, you should be as concerned about inflation as Superman is about Kryptonite. Because it’s the only thing that can really destroy you. And given what’s going on in the country, it could be a problem.“