TLDR
- Cramer recommends Bitcoin as a hedge against U.S. national debt levels.
- U.S. debt now exceeds $37 trillion with a family share of $955K.
- Cramer has repeatedly backed Bitcoin as a key investment strategy.
- Venture capitalist Tim Draper also supports Bitcoin as an inflation hedge.
On Monday, CNBC’s Mad Money host Jim Cramer took to X (formerly Twitter) to recommend cryptocurrencies as a hedge against the rising U.S. national debt. In his post, Cramer displayed an image of the National Debt Clock, which highlights the staggering U.S. debt figure currently standing at $37.63 trillion.
His message suggests that cryptocurrencies, such as Bitcoin, could offer a potential solution to the economic challenges posed by this growing debt.
U.S. National Debt Hits Record Levels
The U.S. national debt continues to rise at an alarming pace, with the National Debt Clock in New York showing the total debt surpassing $37 trillion. Each U.S. family’s share of this debt has now reached nearly $1 million, specifically $955,708, inching ever closer to the $1 million mark. These figures paint a grim picture of the country’s financial obligations, underscoring the urgency for solutions to prevent economic instability.
Cramer, known for his outspoken market views, has previously commented on the dangers of the ballooning U.S. debt. His recent recommendation to “buy crypto” aligns with his ongoing narrative that cryptocurrencies can act as a safeguard against economic crises.
Cramer’s Bullish Stance on Bitcoin
In July, Cramer made similar remarks, describing Bitcoin as a “hedge against $37 trillion debt.” He emphasized Bitcoin’s potential to act as a store of value amid growing concerns over inflation and financial instability. At the time, he disclosed his personal investment in Bitcoin, advising his followers to consider adding the cryptocurrency to their portfolios.
This isn’t the first time Cramer has endorsed Bitcoin as a strong investment choice. Earlier in the year, he urged his viewers to include Bitcoin in a diversified portfolio, citing its value in the face of global economic uncertainty. However, he advised against buying Bitcoin indirectly through stocks like MicroStrategy, which holds a significant amount of Bitcoin on its balance sheet.
Support from Other Analysts
Cramer’s view on Bitcoin as a hedge against inflation has found support from other market analysts. Notably, venture capitalist Tim Draper has also expressed confidence in Bitcoin’s future, predicting its appreciation against the dollar due to inefficiencies in government policies.
Draper believes Bitcoin’s decentralized nature positions it well to outperform traditional fiat currencies in the long run.
