Bitcoin and ethereum, number one and number two of cryptocurrency have made their all-time high in May this year, which attracted a lot of people to trading and many other queries like which coin will be the best investment in 2021?
Jim Cramer, the host of “MadmoneyonCNBC” and founder of “The Street”, answered the question in Andrew Ross Sorkin’s show “Squawk Box” that which coin will best investment for the future. Jim thinks that Ethereum is “more of currency” than Bitcoin. A famous investor and analyst said that he is bullish on risk-on assets including Ethereum, meme stock, and retail.
Jim was bearish before on bitcoin because of recent China’s crackdown on miners and recommended 5% allocation of portfolio for bitcoin but in this interview, he changed his stance completely and told that he is bullish for this week. To back up his statement Jim said that Ethereum has gained massive significance this year with the growth of NFTs and DeFi. $7.5 billion worth of NFTs were sold last year and a significant amount of these was paid in Ethereum. According to Defi pulse, $51.2 billion Ethereum-based DeFi applications are locked and it will be the best investment for the future.
“I went back into Ethereum because Bitcoin held $30,000. I like Ethereum because people use it much more to be able to buy things”
Jim Cramer kept on saying that” he would continue to buy ethereum”. If you have a big portfolio, you can choose to go for bitcoin, but the best investment for the man with a small portfolio will be to invest in ethereum.