- Jim Cramer says that he is still bullish on investing in Ethereum (ETH).
- He is bullish on choosing ETH, after removing BTC from his portfolio.
Crypto Analyst Jim Cramer says that he is still bullish on investing in Ethereum (ETH). However, he is bullish on choosing ETH after removing BTC from his portfolio. Recently, Cramer tweeted that he is ‘sticking with’ his position on ETH ‘but not adding to it’.
Jim Cramer Says ‘Ether Is a Pied Piper Security’
Jim Cramer is the ‘Mad Money’ show host. A few days before, Cramer made a tweet on sticking to his ETH position but also emphasized that he is not adding to it. More so, Cramer also discussed his interest in ethereum (ETH) in a recent interview with the news outlet thestreet.com.
Jim has gradually turned his interest from Bitcoin to Ethereum. He explained in the Mad Money show that Ethereum is “the Pied Piper of cryptocurrency.” More so, Jim expressed his thoughts after Elon Musk’s conversation with Twitter CEO Jack Dorsey and Ark Invest CEO Cathie Wood.
The CNBC broadcast host mentioned to thestreet.com that Elon Musk had an influence on the price.
Jim adds,
“You should go buy Ethereum for trade, ETH is going to run and I may bail on half my position if we get about 20% up (for ETH) and I think we will.”
In addition, the CNBC show host said, Musk is present explaining he purchases ETH, and therefore ETH goes high. Moreover, it is a Pied Piper Security.
Mad Money Host Highlights ETH’s Dominance in the NFT Sector
Jim affirmed the use case of ETH and discussed the fact that people are purchasing the non-fungible token (NFT) collectible assets. Added to this, the CNBC show host mentioned that most NFTs are bought with Ether.
Many individuals responded to Cramer’s tweet. However, some people questioned Cramer in a different way and wanted him to elaborate on the reason he wasn’t stacking more Ether. “$4,400 was the ATH for ETH set in April of this year,” one used to respond to Cramer’s ETH position tweet. “We’re currently sitting at approximately $2K per unit representing basically a 55% retracement. Curious as to why you wouldn’t take advantage of this opportunity? Do you foresee lower prices? Care to elaborate?” the user questioned. Even more, for someone who believes Ethereum is a “Pied Piper security,” Cramer’s tweet seemingly provides uncertainty.
As per CoinMarketCap, the ETH price is $2,328 with a 24-hour trading volume of $24,211,383,080, at the time of writing.