Mad Money host Jim Cramer has made some investment recommendations for the latest Powerball jackpot winner of $ 731.1 million. He recommends investing 5% of the jackpot in Bitcoin, along with several other assets like gold and real estate.
Jim Cramer says you bet 5% of the Powerball jackpot in Bitcoin
Someone won an estimated $ 731.1 million worth of Powerball jackpot last week in what was one of the largest lottery prizes in US history. The winning ticket was sold at the Coney Market, a supermarket in Lonaconing, a city in Maryland. The store receives a $ 100,000 bonus for selling the ticket.
Jim Cramer, the host of Mad Money on CNBC, gave the lucky winner some advice on Friday. The former hedge fund manager also co-founded the financial website Thestreet.com.
Cramer provided a list of the investments he would recommend to the jackpot winner. It’s made up of precious metals, real estate, art, bitcoin, municipal bonds, and dividend stocks.
For the Powerball jackpot winner, Cramer said, “When you’re this super rich, your main concern isn’t the tax officer. One has to worry about inflation, especially hyperinflation. That’s the only thing that can really threaten that nine-figure fortune. “
He continued, “So what is of value in times of hyperinflation?” Cramer revealed, “You may not know, but it’s precious metals, real estate, and great art.” The Mad Money Host has long been a gold proponent. He advised, “As for gold, yes, 5% jackpot in gold bars.” However, he also warned: “Don’t store the gold at home; put it in lockers.” Cramer added:
If you won the lottery go ahead, yes I’ll say 5% in Bitcoin.
Cramer went on to suggest, without going into detail, “Don’t buy everything at once, crypto could be incredibly volatile. Don’t buy on the weekend. But it is an important new store of value. “
In addition to recommending investments, Cramer provided some general advice for Powerball jackpot winners such as: B. watch out for fraudsters and collect their winnings as a lump sum and not as an annuity. “Always take the flat rate. You can put it in government bonds and the interest you pile up will make you more than you would if you took the pension, “said the Mad Money host.
Cramer himself began to invest BTC due to concerns about massive inflation. In December, he announced that he had bought Bitcoin but sold the cryptocurrency earlier this month. He said treat BTC like a share, “As I tell people … when you have a double, you take out a lot … it’s just no different from a share.”
What do you think of Jim Cramer’s bitcoin advice? Let us know in the comments below.
Photo credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer of liability: This article is for informational purposes only. It is not a direct offer or an invitation to make an offer to buy or sell, or a recommendation or approval of products, services or companies. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use or reliance on the content, goods or services referred to in this article.