Jim Cramer calling Bitcoin phony money
TV anchor Jim Cramer said he bought "a lot of" bitcoin when it was worth $12,000 and used some profits from his investment to pay off a home loan.
"I paid off a mortgage yesterday with it," the "Mad Money" host said Thursday on CNBC, adding that selling half his portfolio helped him.
Bitcoin hit an all-time high of near $65,000 on Wednesday, and was last trading 4% lower around $60,600 on Friday. The digital asset's price is up more than 105% so far this year.
"From the chart, I may be the only natural seller. But it was so great to pay off a mortgage. It was like, kind of, phony money paying for real money," Cramer said.