Jim Cramer Says Bitcoin, Ethereum Not In Same Class As Apple But Won't Discourage Buying

Jim Cramer, the host of CNBC’s Mad Money, still believes there are “fortunes to be made in crypto.”

What Happened: In a recent interview on CNBC’s Make It, Cramer said he couldn’t tell people not to own crypto because he still owns Ethereum ETH/USD.

See Also: HOW TO BUY ETHEREUM (ETH)

The Mad Money host advised against borrowing money to invest in the asset class because it can’t be treated the same as blue-chip stocks like Coca-Cola Co KO or Apple Inc AAPL.

“Don’t put it in the Procter & Gamble class. It’s not Coca-Cola, it’s not Apple,” he says.  

Of all the crypto assets, Cramer recommends buying Bitcoin BTC/USD and Ethereum because they “seem the most legitimate.”

In his view, investors should allocate no more than 5% of their portfolios to digital currencies and would not discourage investing in them because of all the crypto fortunes that have been made over the years.

Despite cautioning investors against treating cryptocurrencies like safer blue-chip stocks, Cramer appeared to be shocked by the lack of interest in crypto assets amid the current market environment.

no interest in crypto out here. Amazing skepticism.

— Jim Cramer (@jimcramer) June 9, 2022

In a tweet on Thursday, Cramer dubbed the current lack of retail interest as “amazing skepticism.”

Price Action: According to data from Benzinga Pro, Bitcoin was trading at $30,107, down 1.01% over the last 24 hours. Ethereum was trading at $1,789, down 0.79% over the same period.