Mad Money show host on CNBC Jim Crammer strongly advised institutions to own a stake in Bitcoin.
The TV personality said that the treasurers of companies should make it a matter of priority to add Bitcoin to their corporate balance sheets, adding that it is ‘almost irresponsible’ not to do so.
“Every treasurer should be going to their boards of directors and saying, ‘Should we put a small portion of our cash in Bitcoin?’,” he added.
Crammer affirms that Bitcoin is a good hedge against fiat currency. He said that “it seems to be an interesting way to hedge against the rest of the environment.”
He also mentioned that he holds Bitcoin as an alternative investment.
“I own Bitcoin. I’ve owned Bitcoin for some time as an alternative. I used to always say, I own some gold and own some cash. Now I say I own some cash, own some gold, and own some Bitcoin,” he said.
The current price of bitcoin is $46,222.26, climbing up by 1.07% in the last 24 hours. Bitcoin has a current market cap of $860.86B and market volume of $68.51B. In the last 24 hours, bitcoin has dropped to $45,058.07 and experienced a $47,535.96 high. Currently, 18,624,981.25 bitcoins are in circulation.
Stats and Image from Coin Desk
Meanwhile, the co-founder of monobank, the largest mobile bank in Ukraine, Oleg Gorokhovsky took to his Facebook page to predict that the price of Bitcoin will cross $100,000 within this year and the next.
Gorokhovsky who also disclosed that he has invested substantially in Bitcoin said that Tesla’s $1.5 billion Bitcoin investment proves that Bitcoin has come to stay.