TV business host and reverse bitcoin spokesperson Jim Kramer sold half of what he calls “fake money” from his bitcoin wallet to pay off his mortgage.
During the Squeak in the Street broadcast on Thursday, fellow Jim Kramer stated that he had “decided to pull out” by selling half of his bitcoins to pay for his home.
Kramer, who is also the presenter of Mad Money, said he bought a lot of Bitcoin for $ 12,000 because he thought it was a currency and eventually decided to make a profit.
“I know people will get mad at me, but I paid off the mortgage yesterday.”
“Paying real money was like fake money,” Kramer laughed. “Now I have a house – lock, stock, and barrel – because I bought this coin. I think I won!”
Twitter user SZ BeatzCoin likened Kramer’s sales to buying the infamous 10,000 Bitcoin pizza.
Bitcoin critic Kramer asked the CTO to invest $ 500,000 in Bitcoin after speaking with Anthony Pomplano, co-founder of Morgan Creek Digital, last September. He even considered investing 1% of his $ 150 million net worth in a digital asset.
At the time, BTC was fluctuating between $ 10,000 and $ 12,000, but now it is at $ 63,000, up 425% in just six months.
Famed NFL player Russell Okong called Pomplano to bring Kramer back into a straight and narrow path:
Kramer said in December that he had bought more in the $ 17,000 price range, although he did not say how much.
The TV host returned to the podcast Pomplano on March 22nd to thank him for his support, stating that he had since withdrawn his initial investment and is now playing “money at home” and that he “will never touch it” apparently happened. has not been.
Although he did not disclose the value of his Bitcoin wallet, based on the performance of the cryptocurrency, it could have been around $ 2.4 million.
During a brief discussion on Squeak in the Street, Kramer also reconfirmed his view on the Coinbase listing yesterday, saying that the $ 600 target price for Coinbase COIN was still correct.
“All this is scarcity, and we have no other way to raise money through cryptocurrency.”
He added that by investing in Coinbase stocks, you not only gain cryptocurrency, but also “fair governance”.