Financial analyst Jim Cramer endorsed owning cryptocurrencies like Bitcoin BTC/USD and Ethereum ETH/USD as a safeguard against government overspending and an ever-increasing deficit.
What Happened: Cramer defended his pro-cryptocurrency stance, stating that the concerns over national debt are perpetual, CNBC reported Tuesday.
“I think Bitcoin, Ethereum, and maybe even some other cryptocurrencies deserve a spot in your portfolio, too,” the host of CNBC’s popular Mad Money show said. “Maybe one day, if the deficit gets under control, I’ll change my tune.”
Despite the lack of evidence that cryptocurrency can protect against financial risks, Cramer believed it to be a “plausible” narrative.
“I’ve liked crypto for a very long time, mostly because I know there’s a huge constituency of investors who want to buy something that can protect them from our government’s busted budget,” Cramer said.
He added that while…
