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Clearly, Jim Cramer Doesn’t Get Bitcoin

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This week, CNBC host Jim Cramer introduced that he had offered half of his bitcoin to repay a mortgage. “It was like phony cash paying for actual cash,” he said. “I feel I received.”

Whereas Cramer, the well-known host of “Mad Cash,” has fairly a formidable background having graduated from Harvard College and later operating his personal hedge fund, his option to promote bitcoin to pay down a mortgage is a traditional instance of a misunderstanding of financial economics, and the dynamics of forex competitors.

This piece isn’t meant to focus solely on Cramer, however fairly to supply evaluation as to why that is an instance of a shortsighted funding choice that may show to be fairly pricey in hindsight.

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