CNBC's famous television host Jim Cramer used remarkable expressions in his recent statements about cryptocurrencies.
Responding to comments during the program about younger generations seeing cryptocurrencies as the financial system of the future, Cramer said, “Crypto is good. I use it as insurance, and it's insurance against the country's $37 trillion debt.”
Cramer stated that he views crypto assets not as entertainment or speculative investments, but as a hedge against economic risks. Referring to the US government shutdown, Cramer argued that it was a positive development that the shutdown didn't coincide with critical debt payment deadlines. However, he added that future generations will bear the brunt of the country's financial problems, saying, “Maybe my generation won't see these problems, but theirs will have to live with them.”
Cramer also shared his assessment of Bitmine. He stated that he viewed the company's latest announcement with caution, reminding everyone that similar situations in the past have posed risks to investors. Referring to the same company in his July comments, Cramer said, “If you want to buy things like this, go buy Bitcoin or Ethereum. I own both. They're pretty good.”
*This is not investment advice.