{"id":4253,"date":"2021-06-21T21:28:10","date_gmt":"2021-06-21T20:28:10","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=4253"},"modified":"2021-06-21T21:28:12","modified_gmt":"2021-06-21T20:28:12","slug":"jim-cramer-done-with-crypto-two-months-after-paying-off-mortgage","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/jim-cramer-done-with-crypto-two-months-after-paying-off-mortgage\/","title":{"rendered":"Jim Cramer Done With Crypto Two Months After Paying Off Mortgage"},"content":{"rendered":"\n
Jim Cramer says he's done with cryptocurrency two months after paying off his mortgage with BTC<\/a>.<\/h5>\n\n\n\n
\"Jim<\/figure>\n\n\n\n

\u201cSold almost all of my Bitcoin. Don\u2019t need it,\u201d said Cramer on Squawk on the Street Monday.<\/p>\n\n\n\n

China's growing repression on cryptocurrency mining as well as the role of Bitcoin in recent ransomware attacks was apparently one of the drivers for the move.<\/p>\n\n\n\n

The price of BTC has fallen recently and Cramer said he would have expected the opposite, given China\u2019s constraints on mining (the country has historically led Bitcoin global mining efforts).<\/p>\n\n\n\n

\u201cWhen you limit mining, [the price] should obviously go up,\u201d said Cramer.<\/p>\n\n\n\n

Jim Cramer\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> also signalled concerns about Bitcoin\u2019s role in the Colonial Pipeline ransomware payment\u2014as well as other, unreported ransomware cases, noting the government was able to retrieve part of that ransom after it was paid.<\/p>\n\n\n\n

\u201cI think the Justice Department and the FBI and the Federal Reserve and Treasury could coalesce and say, \u2019OK guys, if you pay ransomware, we\u2019re going to go after you\u2019,\u201d said Cramer.<\/p>\n\n\n\n

Together, the two government bodies gave Cramer enough pause as he decided to withdraw onto Bitcoin<\/a>.<\/p>\n\n\n\n

\u201cThis is not going up because of structural reasons,\u201d he said.<\/p>\n\n\n\n

He failed to address the status of his other crypto assets. He recently sold half of his ETHwallet for the purchase of a fully electric Hummer.<\/p>\n\n\n\n

He has been a longtime advocate of BTC. In the past, he said, on air, that it would be \u201calmost irresponsible\u201d not to include it in a portfolio and said he\u2019d be open to being paid in BTC instead of cash.<\/p>\n\n\n\n

Apparently, that point of view has now changed.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Jim Cramer says he’s done with cryptocurrency two months after paying off his mortgage with BTC. \u201cSold almost all of my Bitcoin. Don\u2019t need it,\u201d said Cramer on Squawk on the Street Monday. China’s growing repression on cryptocurrency mining as well as the role of Bitcoin in recent ransomware attacks was apparently one of the […]<\/p>\n","protected":false},"author":13,"featured_media":4254,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[152,654],"class_list":["post-4253","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-jim-cramer"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/06\/Jim-Cramer-Done-With-Crypto-Two-Months-After-Paying-Off-Mortgage.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/4253","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=4253"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/4253\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/4254"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=4253"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=4253"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=4253"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}