Jim Cramer, the outspoken CNBC host and former hedge fund manager, has once again voiced his support for owning Bitcoin (BTC), and this time, he’s tying it to concerns about America’s surging national debt.
Speaking during a CNBC segment on Wednesday, Cramer revealed that he has been buying Bitcoin as a hedge against the United States’ ballooning debt, which has now reached $37.8 trillion.
When asked whether Bitcoin could hold up during a financial crisis, Cramer responded affirmatively, describing it as “just a nice hedge for what I’m afraid.” While acknowledging his hope that the U.S. can “grow its way out” of the debt crisis, Cramer emphasized that his crypto buying is rooted in concern for his children’s future.
“I buy it a lot because I’m very worried,” Cramer said. “Own some as a hedge against the $37–$38 trillion. They want to own it for their kids, and you know who else feels that way? Me. I don’t want that debt. I’m worried about my kids. Why don’t you buy some Bitcoin or Ethereum?”
Cramer, known for his animated style and frequent bold market calls, has been both a vocal critic and supporter of cryptocurrencies at various times over the years. His latest comments suggest that despite his fluctuating stance, he views Bitcoin and Ethereum as strategic holdings in a world of mounting fiscal risks, but he equally could just be following the trends of large institutional buys from the likes of BlackRock.
