Mad Money's Jim Cramer Endorses Ether as 'Great Store of Value' Amid US Dollar Concerns

Jim Cramer on Ethereum and Spot Ether ETFs

Jim Cramer, the host of CNBC’s Mad Money show, shared his insights on ethereum and spot ether exchange-traded funds (ETFs) on Friday. Cramer, a former hedge fund manager, co-founded Thestreet.com, a financial news and literacy website.

Commenting on the U.S. Securities and Exchange Commission (SEC) approving eight spot ether ETFs the previous day, he said: “Amen.” The Mad Money host added:

I have ether because it’s a great store of value in a world where I think that the U.S. dollar is going to have a hard time because we have such bad [federal budget] deficits.

While clarifying that ETH is “not a stock,” Cramer stressed: “But, I think it’s worth owning.”

Cramer was once a bitcoin supporter. After initially recommending a 5% portfolio allocation to BTC in March 2021, he divested his holdings due to ransomware concerns and China’s crypto mining crackdown. Cramer later disclosed an investment in ether but raised alarms about Binance, FTX, and Tether. By December 2022, he strongly advised investors to exit the crypto market, citing anticipated SEC actions against non-compliant crypto firms.

Nonetheless, he said in January this year that bitcoin cannot be killed. “This thing, you can’t kill it. And the late Charlie Munger, who was so brilliant on so many things, was blind to this,” Cramer emphasized. “It’s a technological marvel, and people have to start recognizing that it’s here to stay.”

What do you think about Jim Cramer’s comments regarding ethereum? Let us know in the comments section below.