Clearly, Jim Cramer Doesn’t Get Bitcoin

Bitcoin Magazine

This week, CNBC host Jim Cramer announced that he had sold half of his bitcoin to pay off a mortgage. “It was like phony money paying for real money,” he said. “I think I won.”

While Cramer, the well-known host of “Mad Money,” has quite an impressive background having graduated from Harvard University and later running his own hedge fund, his choice to sell bitcoin to pay down a mortgage is a classic example of a misunderstanding of monetary economics, and the dynamics of currency competition.

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This piece isn’t meant to focus solely on Cramer, but rather to provide analysis as to why this is an example of a shortsighted investment decision that will prove to be quite costly in hindsight.

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