Cramer says he owns “a lot” of glowing cryptocurrency ether, which tripled Bitcoin’s profits in 2021
CNBC’s Jim Cramer said Tuesday he owns ether, the world’s second largest cryptocurrency by market value.
“I have a lot of ether,” said Cramer on Squawk Box, explaining that he originally acquired it to bid on non-fungible tokens or NFTs that Time Magazine will auction in March. “I didn’t get it, so I just kept the ether,” he said.
Cramer said he may at some point “buy a house” with his ether, a clue to his recent revelation that he sold some of his Bitcoin holdings to pay off a mortgage. “I now own a house – lock, warehouse, and barrel – because I bought that currency,” said Bitcoin, the host of Mad Money, on April 15 on CNBC.
Cramer’s comments come Tuesday as Ether extends its massive rally in 2021, hitting an all-time high of just over $ 3,500. According to CoinMarketCap, ether, which runs on the Ethereum blockchain, has increased more than 370% since the start of the year. The total market value is now over $ 400 billion.
Bitcoin, which has the largest market cap of any digital coin, traded above $ 55,000 per token on Tuesday, which is about 15% lower than last month’s all-time high, but is still nearly double that of $ 1 trillion in 2021, almost half of the total crypto market.
Cryptocurrencies have largely shifted further into the mainstream over the course of 2021. Crypto Exchange Coinbase’s direct listing on Nasdaq last month was heralded as a major milestone for the emerging digital assets industry.