American media personality Jim Cramer recommends buying Bitcoin or Ether. He is a believer in the crypto industry but advises only a speculative investment that's less than 5% of one's portfolio. The TV host told CNBC Make It he owns Ether and can't tell anyone not to own crypto.
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At first, Cramer purchased Ether to bid on an NFT at a charity event. As payments were in Ether, Cramer had to buy some crypto. He researched the currency and found that it has some qualities that he liked.
According to him, the long-term value of that crypto is its timeliness as a decentralized currency that can be broadly adopted over time. Cramer recommends BTC and Ether as they are the largest cryptos and seem the most legitimate.
Holding crypto also can be a beneficial short-term investment and allow taking advantage of the momentum from price swings as many enthusiastic investors want to buy high, he noted.
Cramer also mentioned risks associated with cryptos. He warned that it's speculative and investments may not pay off. Like in the case of other investment categories, past performance doesn't guarantee future profits. Cramer doesn't recommend borrowing money to buy crypto.