CNBC’s Mad Money host has just said that bitcoin and junk bonds are just bubbles with no real values and that the stock market is the only thing that is worth trading with ‘real and obvious value’.
The former hedge fund manager, best-selling author and host of Mad Money, Jim Cramer said that he doesn’t understand why people believe the stock market is a dangerous and overvalued market. His valuable opinion states that market is the only place where a bubble is not forming. He thinks that bitcoin is a prime example of a bubble.
Cramer said in an interview “A year ago, one bitcoin was worth $750. You mean to tell me that’s not a bubble? You think that’s a safe place, a reasonable approximation of value versus the stock market?”
Investment values are inflated in certain areas, but Cramer is of opinion that stock market is currently performing accurately with true prices.
“If everything else is totally crazy and bubblicious, stocks are looking good. I don’t care where we are ‘in the cycle,’ I care where we are in the supermarket of investing, and right now, stocks are the only aisle with real and obvious value.”
Cramer is not the only person to regard Bitcoin as a bubble. Nouriel Roubini an economic professor in New York’s University’s Stern School of Business said earlier that this cryptocurrency is a ‘gigantic speculative bubble.’ Dr Doom as he’s more famously known as also said that it wasn’t a serious form of payment or a good way to safe capital. He added “I think that more and more countries will start to make cryptocurrency exchanges illegal like China did. New regulations will be adopted. So, this will find its end.”
Bitcoin’s value in recent times has reach new heights with total value scaling $8000. While critics continue leaving their opinions, investors are continuing to put more money in to it pushing its value further