Jim Cramer likes crypto again. For how long this time, who knows.
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- Jim Cramer Prefers Crypto To Gold As A Hedge
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Jim Cramer Prefers Crypto To Gold As A Hedge
He recommended crypto over gold literally yesterday. Welcome to the list!
— Hop Scotch Masta (@KevinClimbs) December 17, 2021
Jim Cramer, former hedge fund manager and Harvard Law School graduate, now hosts CNBC’s American finance television program “Mad Money”. Last night during the lightning round where Cramer rapidly answers callers’ stock questions, he was quick to admit that gold has lost its ability to be a hedge against inflation, that he now holds less of it, and that he prefers crypto.
When asked about the Barrick Gold Corp, he said the following: “I have historically liked Barrick Gold. I am not giving up on it. Yield is 2%. But gold has lost its ability to be a hedge, and we all have to recognize that. I used to say that gold should be a 10% hedge. Now it’s only 5%. I prefer crypto to gold.”
The Barrick Gold Corp stock is currently -25.10 % YTD and the overall performance of the gold market YTD is -5.72%. Conversely, the total cryptocurrency market cap has increased from approximately $776 B to approximately 2.3 T this year alone, and cryptos largest digital asset Bitcoin, has increased 65.98% YTD. To conclude, here’s how bitcoin has outperformed gold from 2018 to now:
Green boxes indicate when Bitcoin broke out against gold.
Recommended: Jim Cramer Sold The Rest Of His Bitcoin
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Jim Cramer Is Bullish On Crypto: “I Prefer Crypto Over Gold As A Hedge”
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