Jimmy Crammer prefers Bitcoin to Gold

In the field of cryptocurrency and beyond, there has long been a debate about the best asset that serves as a store of value.

Investors and market experts have been arguing about Bitcoin and gold and which of the assets serve as a better store of value. Bitcoin is considered by many to be the digital gold, but the leading cryptocurrency has surpassed the precious metal since its launch a decade ago.

Mad Money presenter on CNBC Jimmy Cramer expressed his opinion on this debate during a recent session. When a caller asked about the status of gold as a protection against inflation, Crammer replied that gold had lost its status as a store of value.

Cramer stated that he preferred cryptocurrencies such as Bitcoin as inflation protection and a store of value over gold. In the past, Cramer said he recommended investors invest 10% of their portfolio in gold, but now he recommends only 5%.

Bitcoin has surpassed gold in recent months. Despite the recent price drop, the value of Bitcoins has still increased by more than 50% since the beginning of the year. Meanwhile, gold has lost more than 6% of its value during this period. This indicates which asset is doing better now.

While Bitcoin was originally created as a medium of exchange, the cryptocurrency has evolved in recent years and is now considered a store of value by most investors. This has led to huge companies such as MicroStrategy and Tesla adding bitcoins to their balance sheets.

Bitcoin has underperformed in recent weeks. The leading cryptocurrency hit a new all-time high of $69,044 in November. However, since then its value has fallen by almost 30% and is currently trading below the $ 50,000 mark. However, market experts and investors remain optimistic about Bitcoin’s medium and long-term prospects.

Stay in the Loop

Get the daily email from CryptoNews that makes reading the news actually enjoyable. Join our mailing list to stay in the loop to stay informed, for free.

Latest stories

You might also like...