Mad Money’s Jim Cramer advises $ 731 million Powerball jackpot winner to invest 5% in Bitcoin – Bitcoin News
Mad Money host Jim Cramer has shared some investment tips for the latest Powerball jackpot winner of $ 731.1 million. He recommends investing 5% of the jackpot in Bitcoin alongside several other investments like gold and real estate.
Jim Cramer says that you are investing 5% of the Powerball jackpot in Bitcoin
Someone won an estimated $ 731.1 million worth of Powerball jackpot last week in what was one of the largest lottery prizes in US history. The winning ticket was sold at Coney Market, a supermarket in Lonaconing, Maryland. The store receives a $ 100,000 bonus for selling the ticket.
Jim Cramer, the host of Mad Money on CNBC, gave some advice to the lucky winner on Friday. The former hedge fund manager also co-founded the financial website Thestreet.com.
Cramer provided a list of investments that he recommends for the jackpot winner. It’s made up of precious metals, real estate, art, bitcoin, municipal bonds, and dividend stocks.
Jim Cramer recommended investments list if you’ve won the lottery like recent Powerball jackpot winner of $ 731.1 million. Source: CNBC
For the Powerball jackpot winner, Cramer said, “When you’re super rich, your main concern isn’t the tax officer. You have to worry about inflation, especially hyperinflation, which is the only thing that can really threaten nine-figure wealth. “
He continued, “So what is of value in times of hyperinflation?” Cramer revealed, “You may not know, but it’s precious metals, real estate and great art.” The Mad Money host has long been a gold proponent. He advised: “As for gold, yes, 5% jackpot in bars.” However, he also warned: “Do not store the gold bars at home; put them in safes.” Cramer added:
If you won the lottery go ahead, yes I’ll say 5% in Bitcoin.
Cramer went on to suggest, without going into details, “Don’t buy everything at once, crypto could be incredibly volatile. Don’t buy on the weekend. But it is an important new store of value. “
In addition to investment recommendations, Cramer also provided some general advice for Powerball jackpot winners, such as: “Always take the lump sum. You can put it in government bonds and the interest you accumulate will bring you more than it would if you took the annuity, ”said the Mad Money host.
Cramer himself began investing in BTC amid concerns about massive inflation. In December, he announced that he had bought Bitcoin but sold the cryptocurrency earlier this month. He said to treat BTC like a stock, “As I tell people … when you have a double, take out a lot … It’s just no different from a stock.”
What do you think of Jim Cramer’s bitcoin advice? Let us know in the comment section below.
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