Clearly, Jim Cramer Doesn’t Get Bitcoin

    This week, CNBC host Jim Cramer introduced that he had bought half of his bitcoin to repay a mortgage. “It was like phony cash paying for actual cash,” he mentioned. “I believe I gained.”

    Whereas Cramer, the well-known host of “Mad Cash,” has fairly a powerful background having graduated from Harvard College and later working his personal hedge fund, his option to promote bitcoin to pay down a mortgage is a basic instance of a misunderstanding of financial economics, and the dynamics of forex competitors.

    This piece isn’t meant to focus solely on Cramer, however reasonably to offer evaluation as to why that is an instance of a shortsighted funding resolution that can show to be fairly pricey in hindsight.

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