Jim Cramer, host of Mad Money, has provided some investment advice focusing on the latest winner of the $ 731.1 million Powerball jackpot. He recommends putting 5% of the jackpot into bitcoin in addition to several other investments, such as gold and real estate.
Jim Cramer says: Put 5% of the Powerball jackpot in Bitcoin
Someone won a Powerball jackpot worth an estimated $ 731.1 million last week, which was one of the largest lottery prizes in US history. The winning ticket was sold at Coney Market, a convenience store in Lonaconing, a Maryland town. The store will receive 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 he recommends for the jackpot winner. It consists of precious metals, real estate, art, bitcoin, municipal bonds, and dividend-paying stocks.
For the winner of the Powerball jackpot, Cramer said, “When you’re that super rich, your main concern isn’t the taxpayer. You have to worry about inflation, especially hyperinflation, that’s the only thing that can really threaten the nine-digit fortune. “
He continued, “So what is of value during periods of hyperinflation?” Cramer revealed, “You may not know this, but it’s precious metals, real estate and great art.” The Mad Money host has long been a supporter of gold. He advised, “As for gold, yes, 5% jackpot in bullion.” However, he also warned, “Do not keep the precious metal at home, put it in lockers.” Cramer added:
If you won the lottery go ahead, yes I’m going to say it, 5% in bitcoin.
Cramer further suggested without going into detail, “Don’t buy it all at once, crypto can be incredibly volatile. Do not buy on weekends. But it is an important new repository of value. “
In addition to recommending investments, Cramer also provided some general advice for Powerball jackpot winners, such as keeping an eye out for scammers and collecting their winnings as a one-off sum instead of an annuity. Always take the fixed amount. You can put it in treasury bills and the interest you accrue will pay you more than if you took the annuity, ” said Mad Money’s host.
Cramer himself started seeking invest in BTC because of concerns about massive inflation. In December, he revealed that he had bought whatever bitcoin sold the cryptocurrency earlier this month. He said to treat BTC like a stock, “As I tell people … if you have a double, take a lot of it … It’s just no different from a stock.”
What do you think of Jim Cramer’s bitcoin advice? Let us know in the comments below.
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