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Jim Cramer: "Tesla was smart to buy bitcoin"

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Jim Cramer promotes the purchase of bitcoins by Tesla. The Mad Money host on CNBC talked about it on his TV show.

In his opinion, at this point in history, companies should consider investing in bitcoin. He said it in very explicit words:

“I think it is almost irresponsible not to include it. Every treasurer should go to the boards of directors and say if we should put a small part of our cash in bitcoins. "

The news that Tesla invested $ 1.5 billion in bitcoins has shaken the industry. In fact, the price of BTC rose to reach new all-time highs at $ 48,000. But that is not all. It seems that other large companies will soon be able to make their own investment in BTC.

Rumor has it that Apple could invest in Bitcoin or maybe even create its own exchange or wallet, a bit like Samsung did with the Samsung Blockchain Wallet.

The other rumor spread by a respected journalist, Max Keizer, refers to Oracle instead.

In summary, bitcoin seems to be increasingly attractive to large companies.

Jim Cramer: Tesla Could Lead To Mass Adoption Of Bitcoin

All of this could give Bitcoin a lot of visibility which could ultimately lead to the massive adoption of cryptocurrencies. In his opinion, what companies like PayPal and MasterCard are doing may also contribute to the spread of cryptocurrencies. In particular, PayPal has been running a cryptocurrency buying and selling service in the United States for a few months. To this, it recently added the function of using crypto as a payment method for the 25 million merchants that accept PayPal.

But big companies in general should be doing more. He said about it:

"I think Tesla did the right thing? Absolutely. I've always felt that companies should do more with their cash than just keep it short-term… I fully applaud Tesla. Once again they are at the forefront ”.

It is worth noting that news about Tesla and Bitcoin they are generating excitement in the industry, infecting even large institutional investors. This is also explained in the growth of Bitcoin trust funds at Grayscale in which Miller Opportunity Trust, a well-known hedge fund, would also be ready to invest. The creation of a Bitcoin Trust by BlockFi also responds precisely to this growing demand. And usually growing demand coupled with limited supply like Bitcoin leads in one direction: price increase.

Jim Cramer's entry: "Tesla was smart to buy bitcoin" was first published in Crypto report.



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