CNBC analyst Jim Cramer warns that cryptocurrencies are speculative investments and that investors should not make up more than 5 percent of their portfolios.
Bitcoin, and the overall cryptocurrency market, has been completely uncertain and volatile for the past few weeks. While Bitcoin was moving in the range of $ 29,000 to $ 31,500, this period was a nightmare for investors.
CNBC analyst Jim Cramer said he “believes” in cryptocurrencies and recommends buying BTC and ETH. But he said investors should take it as a speculative investment and not allocate more than 5 percent of their portfolios.
A believer in crypto, Cramer sees digital assets as an important long-term value. He said that cryptos are decentralized, timeless and he believes they will gain more adoption in the long run. He also thinks that Bitcoin and Ethereum are in the long run and are "the ones that seem the most legitimate."
With the rapid growth of the crypto market, crypto trading has come to the fore a lot these days. People are investing in crypto for the short term, taking advantage of the momentum fluctuations in crypto prices. However, Cramer warned of some inherent risks that come with crypto trading.
Cramer warned investors that cryptos are speculative assets and said that they could face losses in the short term. In addition, investors reminded that past performance is not a guarantee of future returns.
Support for Bitcoin Education Program from Jack Dorsey and Jay-Z
Residents of the Marcy Houses complex in Brooklyn will be able to get a free bitcoin education this summer.
Jack Dorsey promoted the project, which is carried out under the name of The Bitcoin Academy, on Twitter today. “This is not just about Bitcoin,” Dorsey said. It's also about thinking long-term, about local economies, about self-confidence.” said.
The training program will be led by Lamar Wilson and Najah J. Roberts. The purpose of the program will be to provide participants with information both on Bitcoin and in the field of finance. In the courses, the participants will be taught what Bitcoin is, how it works, what it does, and how it can be used in the future.
Dorsey, in his statements about the program, said, “Bitcoin is turning into a critical tool for many people in Africa, Central and South America. We believe the same potential applies to some communities in the United States.” said.