Sooner or later, bitcoin makes believers of them all!

BUY BUY BUY!

One of the most colorful personalities on financial television as long been a fan of bitcoin, talking rather favorably about it on his show numerous times.

I remember a few years back when many in the financial industry were publicly critical of bitcoin, Cramer was cautiously positive on it saying a lot of smart people were involved in it and who was he to say he couldn't eventually be wildly successful.

Well, continuing that theme, he announced that he bought bitcoin on this most recent dip down to $17.6k.

Check it out:

(Source:

https://twitter.com/jimcramer/status/1337362854660464641

- jimcramer

)

Expanding on the tweet, he offered this quote later on Friday when bitcoin was trading below $18k...

“I will buy — like I usually do — as something comes down. I'll get bigger and bigger and bigger. I just think that you want to diversify into all sorts of asset classes. I have gold. I’m going to diversify into some Bitcoin — not a big position for me — but it's certainly important to be diversified, and Bitcoin is an asset and I want to have a balance of assets."

This was is interview with The Street, which can be seen here:

You can only avoid the bitcoin virus for so long...

I have seen this time and time again, first they are skeptical of bitcoin and then eventually they turn bullish when it doesn't die and keeps grinding higher.

I am a perfect example of this as well.

I remember back in 2010 when I was working for a prop trading firm that I would hear little tidbits about bitcoin here and there and how people were wondering if they should buy it or not...

I remember saying to myself why would anyone invest real money into this thing, it's obviously just a gimmic that will be dead in a year or so.

Well, fast forward a few years and it didn't die, it was on the news again this time getting up near $1k per coin.

That is when I started to change my mind about it...

If it could have these big run ups, and have the subsequent dips, and then repeat it all over again years later, it clearly had staying power.

It was around this time that I started dipping my toes into the bitcoin rabbit hold and I've been going down it ever since.

While Cramer was never really against bitcoin, in fact he seemed pretty open to it most of his career, it took bitcoin stick around a while and making new highs before he was really willing to get behind it.

There has been a major stamp of approval for bitcoin this year with the institutions getting involved that is likely to help usher in a wave of new institutional money over the next couple years.

Buckle up folks, it's going to be a fun 2021!

Now we just need our favorite altcoin to go along for the ride as well! :)

Stay informed my friends.

-Doc