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The Capital

CNBC Host Advised The American Who Won Lottery Worth $731 Million To Invest In Bitcoin

The host of the show Mad Money on CNBC, Jim Kramer, offered his investment strategy to the winner of the Powerball lottery, who won $731.1 million.

After the draw on Wednesday, the identity of the winner of the jackpot remain disclosed, it is known that the ticket was purchased in a small shop in Maryland. The state is one of the few where winners remain anonymous.

Kramer believes that the sixth-largest prize in the history of the lottery puts its owner in a strong position, and he does not need to take risks with the investment. But the problem of wealthy people is inflation, in particular — hyperinflation, Kramer added.

As one of the measures to invest his lottery, Kramer suggested investing 5% of it in Bitcoin. He also advised not to buy Bitcoin for the entire amount as it is highly volatile asset.

Kramer identified precious metals like gold, real estate, and art as hyperinflation-resistant assets. In them, he also called for investing 5% of the winnings. In his opinion, it is not necessary to invest more than 20% of the winning amount in the stock market.

The CNBC host owns some Bitcoins, which he bought at a rate below $18,000. According to him, digital assets do not occupy a large share in his portfolio.

Recall, a resident of Illinois invested in Bitcoin with half of the lottery amount of $500,000. He purchased the top cryptocurrency in May 2019 and intended not to touch the asset for at least five years.



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