Jim Cramer Thinks 'Every' Corporate Treasurer Should Be Thinking Bitcoin
The CNBC host said it's almost irresponsible not to include bitcoin on balance sheets following Tesla's buy.
Feb 9, 2021 at 6:23 p.m. UTCUpdated Aug 19, 2021 at 7:10 a.m. UTC
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CNBC personality Jim Cramer has turned bullish on bitcoin balance sheets in the wake of Tesla's $1.5 billion buy.
- "I think it's almost irresponsible not to include" bitcoin on corporate balance sheets, Cramer said on CNBC Tuesday.
- "Every treasurer should be going to boards of directors and saying, 'Should we put a small portion of our cash in bitcoin?' It seems to be an interesting way to hedge against the rest of the environment," he said.
- "I think it's an alternative to having cash position where you make absolutely nothing," Cramer said. The verdict on bitcoin: "Nice hedge against fiat currency."
- Cramer has previously endorsed MicroStrategy's bitcoin treasury reserve. He called CEO Michael Saylor a "gunner" he wouldn't bet against during a mid-January episode of "Mad Money."
- Cramer, who said he owns bitcoin, has previously advocated for the cryptocurrency as a hedging instrument.
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